Speaker of Parliament, Rt. Hon. Alban Sumana Kingsford Bagbin, has praised the remarkable turnaround of the National Investment Bank (NIB), describing the restoration of public confidence in state institutions as one of the most important challenges facing Ghana’s democracy.
Speaking as the Guest of Honour at the launch of Rebuilding Confidence, Restoring Strength: The Story Behind NIB’s Remarkable Transformation in Accra on Tuesday evening, Bagbin said public trust remains the foundation of effective governance. The event, held at the British Council, brought together members of the Council of State, ministers, Members of Parliament, the Governor of the Bank of Ghana, traditional leaders, industry captains, and NIB’s board, management, and staff.
The book was authored by Chief Dr. Doliwura Awushi Abdul-Malik Seidu Zakaria, who has led the bank’s recent transformation.
Restoring trust in public institutions
Bagbin described the publication as more than a success story about one financial institution, saying it serves as an important lesson on leadership, accountability, and rebuilding confidence in public institutions.
He noted that his attendance was both personal and symbolic, commending Dr. Zakaria for his distinguished public service and leadership across several state institutions, including the West Gonja District Assembly, the Land Title Registry, the Accra Metropolitan Assembly, the Controller and Accountant General’s Department, and the Ministry of Chieftaincy and Religious Affairs before taking charge of NIB.
According to the Speaker, the book challenges Ghanaians to reflect on whether public institutions funded by taxpayers are delivering on their mandate. He warned that when citizens lose confidence in institutions created to serve them, democracy itself is weakened.
Governance before capital
Bagbin recalled that Parliament established NIB in 1963 as Ghana’s first development finance institution to support industrialization, financing companies such as Nestlé Ghana and Aluworks while contributing to the establishment of what later became the Agricultural Development Bank.
However, he observed that by 2024, the bank had gone more than a decade without publishing audited financial statements, describing it as a major governance failure.
He emphasized that recapitalization alone cannot revive struggling state institutions if governance structures remain weak. Instead, he credited NIB’s recovery to stronger systems, accountability, and disciplined leadership implemented before fresh capital was injected.
Bagbin commended the bank’s board, management, and staff for documenting their recovery journey and encouraged leaders of other state-owned enterprises to learn from the experience.
Author highlights NIB’s recovery
Chief Dr. Zakaria explained that the book was written to document a collective institutional effort rather than celebrate any individual, describing it as a practical guide for future public sector leaders.
He shared that a lesson from his late father—”what is unfinished does not disappear; it waits”—inspired his approach to rebuilding the bank.
The author outlined significant improvements achieved within 18 months, revealing that NIB’s profit increased from GHS 3.1 million in 2024 to GHS 344 million in 2025, with an additional GHS 94 million recorded during the first half of 2026, bringing cumulative profits to GHS 438 million.
Customer deposits also doubled from GHS 6.4 billion to GHS 12.9 billion, while total assets rose from GHS 5.8 billion to GHS 14.9 billion by June 2026.
He further disclosed that the bank completed recapitalization within four months, securing GHS 1.97 billion in fresh capital. During the same period, NIB’s negative equity of GHS 851 million was transformed into positive equity of GHS 1.64 billion, while its Capital Adequacy Ratio improved from negative 47 percent to 48.1 percent.
Non-performing loans also declined significantly from 76 percent in 2024 to 52.21 percent by mid-2026, alongside a 25 percent reduction in operating costs through efficiency measures.
Journey continues
Despite the progress, Dr. Zakaria stressed that NIB’s transformation is still ongoing, noting that reforms, modernization projects, and system improvements remain underway.
He urged leaders across both the public and private sectors to view leadership as stewardship rather than ownership, expressing hope that the book would inspire confidence that struggling institutions can recover through discipline, integrity, and sustained reform.
