Bank of Ghana appoints Felix Addo as Advisor for National Investment Bank

Felix Addo is expected to restructure the governance and management systems of NIB
His appointment was made pursuant to section 101 of the Banks and Specialised Deposit-Taking Institutions Act of 2016.
A statement from BoG said that as an Advisor he is not to take over the powers, responsibilities, and duties of the bank’s shareholders, directors, or management.

The Bank of Ghana (BoG) has appointed Felix Addo as an Advisor for the National Investment Bank (NIB).

In a statement issued by the BoG, it stated that the decision was taken pursuant to section 101 of the Banks and Specialised Deposit-Taking Institutions Act of 2016.

The statement indicated that Mr Addo will be expected to develop reforms in the governance and management of the NIB. He has also been tasked to streamline the bank’s business model to help refocus it as a bank to industrialisation.

He will stay in the bank until otherwise advised by the Bank of Ghana and will provide the BoG with a status report on the bank as required by the Central bank.

The statement explained that as an Advisor he is not to take over the powers, responsibilities, and duties of the bank’s shareholders, directors, or management.

Under Act 930, the Advisor may attend meetings of the Board of Directors without voting at such meetings.

Mr. Addo is the immediate past Country Senior Partner of PricewaterhouseCoopers, Ghana and a former member of the PwC Africa Governance Board.

He has more than 30 years of practice and consulting experience in restructuring and insolvency, corporate finance and recovery, financial and forensic auditing, arbitration, corporate governance, organisational restructuring and performance improvement engagements in both developed and developing economies.

He currently chairs the Board of Directors of Guinness Ghana Limited and serves on other Boards.

He is the President of the Ghana Association of Restructuring and Insolvency Advisors (GARIA).

He belongs to other professional bodies including the Institute of Chartered Accountants (ICA), Ghana, and the American Institute of Certified Public Accountants (AICPA).

Mr. Addo holds a B.Sc. (Hons) Administration from the University of Ghana, Legon and an MA in Professional Accounting from Loyola College of Maryland, USA. He was honoured with a D.Sc (h.c) in July 2018 by the University of Mines and Technology, Tarkwa.