‘New NIB MD is a qualified banker’

Contrary to the social media claim that the newly appointed Managing Director of the National Investment Bank (NIB), Tweneboa Kodua Fokuo, does not qualify for the position and that he is being favoured because he is the New Patriotic Party (NPP) parliamentary candidate in one of the constituencies, The Chronicle checks at the bank do not support the claim.

Apart from the social media reports, Dr. Kwabena Donkor, the Ranking Member of the Committee on Employment, Social Welfare and State-Owned Enterprises had also raised concern about Mr Kodua Forkuo’s appointment.

In a statement, Dr Donkor said: “The National Investment Bank is distressed and on life support. It is in dire need of a management team with the requisite skills and competencies to engineer and manage a recovery programme of a medium-term”

Dr Donkor contended that the politicisation of State-Owned Enterprises undermines public trust in the government’s ability to manage national resources effectively.

But the Director-General of SIGA, John Boadu, disagrees with Dr Kwabena Donkor.

In an interview with Joy FM, he said, “we are all concerned about the health of NIB and their financial situation is not very good as we speak.

“I will entertain any argument that says that by his experience and qualification he is incapable of managing and restructuring NIB; but for the mere fact that he is a Parliamentary Candidate begs the question,”

But as the arguments for and against his appointment continue,  The Chronice gathered that though Mr Tweneboa Kodua Fokuo is the NPP parliamentary candidate for Manso Nkwanta in the Ashanti Region, he was already working with the bank at the time  he decided to contest the primary.

Sources within the bank confided in The Chronicle that Forkuo has been the Deputy Managing Director of the NIB since 2019.

He has, therefore, gone through the process before assuming his current position as the Managing Director. He was not brought from anywhere to just come and occupy the position. He was the Deputy Managing Director with vast experience in the banking, a source told this reporter.

The Chronicle also gathered that the new NIB MD had previously worked with Barclays Bank (now ABSA), the First National Bank; a subsidiary of First Rand Bank Group of South Africa.

At ABSA (ex Barclays) he served as the Country Risk Partner alongside other portfolios he managed concurrently, whereas at First National Bank, he was the Country Head of Credit Risk. The following is his brief background;


  1. Date: ​ 05/2008-06/2009

Institution:  ​ IFS School of Finance, UK

Qualification: Advanced Qualified Risk Analyst


  1. Date: ​11/2002-04/2004

Institution: ​University of Wales, UK

Qualification: ​MBA (Finance)


  1. Date: ​09/1997-06/2001

Institution:​ KNUST

Qualification: ​BSC Natural Resources Management




* International project Finance and Modelling.

* Motivating change leadership.

* Governance and Risk management

* Advanced Treasury Management

* Derivatives Structuring and Administration

* Lease Structuring and Administration

  • Strong Analytical Capability
  • Strong risk assessment capability.
  • Attention to details leading to accurate execution of duties.
  • Time management to ensure organisational and operational

efficiency to enhance growth.

  • Ability to work under pressure to meet deadlines.
  • Brilliant interpersonal and communication skills.
  • Excellent in ICT.

Period: Nov. 2019 – Present.

Employer: National Investment Bank Limited.

Position: Deputy Managing Director.


  • An executive member of the bank with responsibilities to provide strategy for the bank.
  • Acting as the Managing Director in the absence of the MD.
  • Having hands-on work on all arms of the bank to ensure smooth running.
  • Taking an active role in preparing budgets and financial modelling for the bank.
  • Togother with the MD working on strategic models in transforming the bank to support industry.
  • Directly in-charge of turn-around of the Bank’s bad assets
  • Guiding key units of the bank in-terms of best practice sharing as part of transformational agenda

Period: Jan. 2016 – Mar. 2019.

Employer: First National Bank; A subsidiary of FirstRand Group of South Africa.

Position: Country Head of Credit Risk.


  • In-charge of credit risk covering Corporate & Investment, Commercial Banking and Retail Banking.
  • Review and evaluation of complex credit risk and structuring.
  • Conducting due diligence through research and analysis of financial data.
  • Undertaking financial modelling and projection.
  • Reviewing and developing the Bank’s credit risk approval policies and guidelines as well as taking decisions on projects being financed by the Bank.
  • Engaging the development, implementation, review and monitoring of various credit risk programs and providing support to the teams.
  • Responsible for the review and approval of credit proposals and ensuring balance between risk and returns.
  • Keeping up to date with market developments to understand risk trends and opportunities in the market.
  • Managing teams to deliver superior results.

Playing key roles on strategic management of the bank.


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