National Investment Bank terminates appointment of all contract staff

The National Investment Bank, (NIB), has terminated the appointment of all contract staff.

A letter of termination sent to the affected staff read in part “that management has decided to terminate your contract on June 30, 2019.”

The letter added that the affected staff must hand over “their Staff ID, Friday wear and other corporate accessories” to management and proceed on a terminal Seven days leave on or before June 21, 2019.

The contract staff had earlier been informed of the decision not to renew their contract after it expiration date. Most of the affected staff were expected to leave in October and November 2019.

But one of the affected workers who spoke to stated that they were suddenly informed on Monday that management has decided to end the relationship with them at the end of June.

A senior management member who confirmed the news to on condition of anonymity stated that the decision is part of efforts to restructure the operations of the bank and make it more profitable.

This move comes months after the Bank of Ghana named the immediate past Country Senior Partner of PricewaterhouseCoopers, Ghana, Mr. Felix E. Addo as Advisor for National Investment Bank (NIB).

The central bank had early announced the appointment of an advisor for the Bank without much detail of who the advisor was.

In May 2019, the Bank of Ghana also appointed Mr. Samuel Sarpong as Managing Director of the Bank.


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