President John Dramani Mahama has terminated the appointment of the Chief Executive Officer of the Minerals Income and Investment Fund (MIIF), Edward Nana Yaw Koranteng.
This was contained in a green paper signed by the Secretary to the President, Dr. Callistus Mahama.
In effect, Mr. Koranteng has been directed to hand-over to the Finance Minister-designate, Dr. Cassiel Atto Forson, pending an appointment of a substantive CEO.
“I write to formally inform you that H.E. John Dramani Mahama has revoked your appointment as the Chief Executive Officer of the Minerals Income and Investment Fund, effective immediately.
“You are directed to hand over your duties to the President’s representative at the Ministry of Finance. Hon. Dr. Ato Forson will oversee the operations of the Fund until a substantive Chief Executive Officer is appointed,” the statement said.
Mr. Koranteng was appointmented in 2021 under the Akuffo-Addo-led government. As CEO, he oversaw the management of Ghana’s equity interest in mining companies, superintended over all royalties paid to the state from mining activities and supported the growth of the mining industry through long-term, sustainable investments in the sector.
His removal comes as part of Mahama’s effort to constitute a new administration for his last term as President. The president recently dissolved Statutory boards, corporations, councils and commissions, except those independently instituted by the constitution.
Mahama has been advocating for a lean government since his time as opposition leader. He lamented the large size of government which he argued took a toll on government expenditure under the Akuffo-Addo led administration.
Apart from dissolving statutory boards and the likes, the President has reduced the number of government ministries to 23 from 30.
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