President John Dramani Mahama has appointed Madam Justina Nelson, an experienced banking professional, as the Acting Chief Executive Officer (CEO) of the Minerals Income and Investment Fund (MIIF). The appointment, announced on Tuesday, is in line with Article 195(1) of the 1992 Constitution and Section 21(2) of the MIIF Act, 2018 (Act 978).
Madam Justina Nelson brings over 20 years of experience in the banking sector to her new role. She is currently a Group Head at Zenith Bank (Ghana) Limited, where she oversees the Energy and Commercial Banking sectors. A statement issued by the Acting Presidential Spokesperson, Mr. Felix Kwakye Ofosu, highlighted her qualifications and experience, which are expected to contribute to the effective management of the MIIF.
Justina Nelson holds a Master of Laws (LLM) in Corporate and Commercial Law and a Master of Business Administration (MBA) in Marketing, both from the University of Ghana. Additionally, she holds a Bachelor of Arts degree in Management and Psychology from the University of Ghana and a Bachelor of Laws (LLB) degree from the Ghana Institute of Management and Public Administration (GIMPA).
Her appointment follows the revocation of Edward Nana Yaw Koranteng’s role as CEO of the MIIF. President Mahama, in a letter dated Monday, January 13, instructed Mr. Koranteng to vacate the position with immediate effect and hand over to Dr. Cassiel Ato Forson, the Finance Minister-designate. Mr. Koranteng’s removal comes after his controversial involvement in the now-aborted Agyapa Minerals Royalties deal, which sparked widespread public outcry and intense criticism. The Agyapa deal, designed to monetize the country’s gold royalties, reportedly led to the spending of some $12 million before it was scrapped.
The MIIF has been a key institution in Ghana’s efforts to maximize income from the country’s mineral resources, but its role in the Agyapa deal tarnished its reputation, raising questions about transparency and accountability. With this backdrop, Madam Justina Nelson’s leadership is expected to usher in reforms aimed at restoring public trust and enhancing the institution’s credibility.
As Acting CEO, Justina Nelson is tasked with managing the country’s mineral income in a manner that ensures prudent use of resources and maximizes returns for national development.
