Finance Minister Dr. Cassiel Ato Forson has sharply criticised the previous New Patriotic Party (NPP) administration over its handling of Ghana’s banking sector, contrasting it with the Mahama-led government’s approach to reviving the struggling National Investment Bank (NIB).
“Mr Speaker let me state this, unlike the previous administration, we chose to spend to save a bank rather than spend to collapse a bank,” Dr. Forson declared in Parliament when he presented the mid-year budget review on Thursday July 24.
According to the Minister, the Mahama administration has successfully recapitalised NIB through what he described as an “ambitious and credible plan” aimed at restoring profitability and ensuring long-term sustainability.
He outlined key steps taken by the government, including:
– A GHS450 million capital injection
– Issuance of GHS1.5 billion in re-marketable bonds
– Transfer of GHS500 million worth of government shares in Nestlé Ghana Limited to the bank
These interventions, he noted, have transformed NIB’s capital adequacy ratio from a deeply negative -51.13% in December 2024 to a healthy 23% in May 2025.
“By taking these major steps, we have preserved depositors’ funds valued at GHS6.4 billion. We have also saved over 900 direct jobs at the NIB. We have preserved an indigenous Ghanaian bank,” he said.
Dr. Forson assured the public that NIB has fully regained stability, liquidity, and capacity to serve as a strong player in the banking sector.
“I want to use this opportunity to assure the people of Ghana that our indigenous bank, the NIB, is now prime for business. More importantly, NIB is back, NIB is now liquid, NIB is now safe, NIB is fully capitalised. We therefore encourage all and sundry to do business with the NIB,” he added.
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