Gov’t still focused on merging ADB, NIB banks—Ofori-Atta

Finance Minister Ken Ofori-Atta has reiterated that government is focused on merging the adb Bank and the National Investment Bank(NIB).

The Finance Minister announced in the 2018 budget presentation last year that government was considering merging adb and NIB banks to serve industry and the agriculture sectors.

Reports on the merge has been low as some analyst warned the move could lead to some job losses.

But speaking at a forum organized by the Danquah Institute in collaboration with Citi FM, on the collapse of banks, Mr. Ofori-Atta stressed that government is still pursuing the agenda to merge the adb Bank and NIB bank.

He explained that the consolidation the two banks will create a smooth atmosphere for government to implement its flagship programme—Planting for Food and Jobs.

“We are looking at NIB and adb coming together. I think we are still on that course to do that because at the core of that we will then be creating that capacity to look at this whole industrialization in an organized and structured way of a strong institution that does that, so that Agric and industrialization would be taken care of.

Government has already indicated that the planting for food and jobs programme will create thousands of job while it provides food to feed the nation.

According to Mr. Ofori-Atta such a huge project will require financial support that can be provided by the adb bank and NIB bank when they are consolidated.

Other distinguished persons who were part of the forum were a Deputy Minister of Finance, Charles Adu-Boahen, Head of Chambers, Kasser Law Firm and Lecturer at GIMPA, Clara Kasser-Tee, Private Legal Pratitioner Ace Ankomah, Senior Lecturer and Economist, Dr. Eric Osei-Assibey, Head Consultant and CEO of EBEN Consultancy, Accra, Dr Ebenezer Ashley.

The forum which was moderated by Citi FM’s Bernard had the theme “THE BANKING SECTOR CLEAN UP – ARE DEPOSITORS SAFE?”.

Credit: citibusinessnews