Affail Monney (left) presenting the citation to Dr. John Asamoah
The Ghana Journalists’ Association (GJA) has lauded the management and board of the National Investment Bank (NIB) for presiding over a strong bank at a time when some indigenous banks are facing serious challenges, culminating in their takeover by the Central Bank.
Over the last three years, the bank’s branch network has increased massively from 28 to 52 branches. It also has over 50 automated teller machines (ATMs), including off-site ATMs nationwide. With its MasterCard services, customers can access over 200 million ATMs worldwide.
Presenting a citation to the Managing Director of the NIB, Dr. John Asamoah, last Thursday for the bank’s support to the media over the years, GJA President, Affail Monney, praised management of the financial institution for making it one of the excelling local banks in the country.
Mr. Monney was particularly thrilled by the bank’s recent legal victory at the Supreme Court.
The NIB won a $60 million landmark court case against Standard Bank Offshore Company (substituted by Dominion Corporate Trustees Limited).
Standard Bank Offshore had filed an application for review at the Supreme Court, seeking to set aside the decision of a five-member panel which dismissed a $60 million judgment debt against the bank.
However, a seven-member panel of judges, presided over by the Chief Justice, Justice Sophia Akuffo, in a unanimous decision, dismissed the application because it did not meet the requirement of an application for review per the procedures of the Supreme Court.
The GJA president also commended the company for supporting   the 2018 Ghana Journalists (GJA) Awards, which saw the best journalist winning a three-bedroom house.
The NIB boss was grateful to the GJA for recognizing him and the role the bank is playing in the national economy and promised to work harder to ensure that it (NIB) continues to chalk successes.
Dr Asamoah was happy that the bank finally secured a legal victory at the Supreme Court.
He said the victory came as a big relief, explaining that the legal tussle with Standard Bank Offshore threatened the bank’s business relationships for almost eight years.
Meanwhile, NIB is still celebrating its 55 years’ anniversary; it was established in 1963.
Dr. John Kweku Asamoah was joined by a founding employee of the bank, J.O. Bannerman and members of the Executive Management Committee to cut the anniversary cake.