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GJA honours NIB MD

botchway March 27, 2018

The Ghana Journalists Association has lauded the management and board of the National Investment Bank (NIB) for presiding over a strong bank at a time when some indigenous banks are facing serious challenges, culminating in their takeover by the Central Bank. Over the last three years, the bank’s branch network has increased massively from twenty-eight (28) branches to 52. It also has over 50 ATMs including off-site ATMs nationwide.
With its MasterCard services, customers can access over 200 million ATMs worldwide. Presentation a citation to Managing Director of the bank, Dr. John Kweku Asamoah last week Thursday, for the bank’s support to the media over the years, GJA president Affail Monney praised management of the bank for making NIB one of the excelling local banks in the country. Mr. Monney was particularly thrilled by the bank’s recent legal victory at the Supreme Court. The National Investment Bank (NIB) has won a $60 million landmark court case against Standard Bank Offshore Company (substituted by Dominion Corporate Trustees Limited). Standard Bank Offshore had filed an application for review at the Supreme Court seeking to set aside the decision of a five-member panel, which dismissed a $60 million judgment debt against NIB. However, a seven-member panel of judges, presided over by the Chief Justice, Justice Sophia Akuffo in a unanimous decision dismissed the application because it did not meet the requirement of an application for review per the procedures of the Supreme Court. The GJA president also commended the company for supporting the 2018 Ghana Journalists (GJA) Awards, which saw the best journalist winning a three-bed room house. The NIB boss was grateful to the GJA for recognising his hard work and efforts and promised to work harder to ensure the bank continues to chalk successes in the coming years. Dr Asamoah was happy that the Bank finally secured a legal victory at the Supreme Court. He said the victory came as a big relief, explaining that the legal tussle with Standard Bank Offshore threatened the bank’s business relationships for almost eight years. Meanwhile, NIB on Thursday, 22nd March 2018, cut a cake to mark exactly 55 years of the Bank’s establishment in 1963. The bank has supported the establishment of a number of companies such as Nestle Ghana Limited, Novotel (now Accra City Hotel), Kabel Metal (now Nexans Kabelmetal), Aluworks and Pambros Salt among others, through its equity funding. The Managing Director/Chief Executive Officer, Dr. John Kweku Asamoah was joined by a founding employee of the bank, Mr. J.O. Bannerman and members of the Executive Management Committee to cut the cake.

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