NIB donates GH¢1m to support GAF Barracks redevelopment project

The National Investment Bank (NIB) has donated GH₵1 million to the Ghana Armed Forces (GAF) to support the military’s self-help barracks redevelopment initiative, a project aimed at improving accommodation conditions for service personnel.

The donation was formalised on Friday, February 20, 2026, during a courtesy visit by the Chief of the Defence Staff (CDS), Lieutenant General William Agyapong, to the NIB headquarters in Accra. The cheque was presented to Lt Gen Agyapong, who received it on behalf of the Armed Forces.

Welcoming the CDS, the Managing Director and Chief Executive Officer of NIB, Chief Dr Doliwura Zakaria, lauded the Ghana Armed Forces for their discipline, professionalism, and patriotism, describing the institution as one of Ghana’s most respected establishments.

Chief Dr Zakaria reaffirmed the bank’s pride in its longstanding relationship with the military, acknowledging the loyalty demonstrated by the GAF during challenging periods in the bank’s history. He commended the Military High Command for what he termed a “bold and visionary” housing initiative, emphasising that decent accommodation for personnel is not merely a welfare concern but a strategic requirement for operational readiness and national security.

Beyond the financial contribution, NIB offered to host the project’s account and proposed establishing a new branch at Burma Camp to enhance banking access for service personnel.

The CEO also provided the CDS with an update on the bank’s recent performance, highlighting a return to strong profitability and outlining plans for a share floatation aimed at strengthening NIB’s capital base and improving corporate governance. He further suggested the possibility of the Ghana Armed Forces becoming shareholders in the bank—a move that could deepen the partnership and potentially lead to board-level representation.

In his response, Lt Gen Agyapong commended NIB’s leadership for the bank’s growth trajectory and financial recovery. He disclosed that the accommodation deficit within the Armed Forces was one of the major challenges he identified upon assuming office and pledged to work with the government to significantly reduce, if not completely resolve, the housing problem.

The CDS also appealed to well-meaning institutions and stakeholders to support the initiative, describing decent housing for military personnel as critical to morale, welfare, and national security.

The meeting was attended by members of NIB’s Executive Management Team and the GAF Committee for Special Projects.