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LBDI president resigns

The president and Chief Executive Officer of the Liberian Bank for Development and Investment (LBDI) Mr. Deo Z Delaney has tendered his resignation following the discovery of flaws in his credentials.

In a release dated 6 December 2022 under the signature of LBDI Board Chair and Finance Minister Samuel D. Tweah, the Board said it accepted Mr. Delaney’s resignation effective Tuesday, 6 December.

Delaney resigned after the LBDI Board became aware that there were inaccuracies in the academic qualifications he supplied to the recruitment firm in a bid to secure the top job. 

The LBDI Board explained that in December 2021, it engaged the services of a recruitment firm to search for suitable candidates for the position of LBDI president/ CEO.

It said the exercise identified Mr. Delaney was a suitable candidate for the position, following which he was selected as president/CEO.

But roughly one year later, the Board has found that to be on the contrary.

“As a result of this anomaly, Mr. Delaney has tendered his resignation which has been accepted by the Board Effective December 6, 2022,” the release said.

Further, the Board stated that it has designated Mr. Mark Akwenah Nyeamene, Jr., the General Manager/Deputy Chief Executive Officer, as Acting president/CEO of LBDI. 

“The public is encouraged to accord Mr. Nyeamene the due courtesy in the performance of his duties while the Board takes the next steps to recruiting a new President/CEO,” the release added.

The Board assures the general public, particularly its customers, shareholders, potential investors and all other stakeholders, that LBDI remains strong in its operations and that depositors’ funds are safe and secure. 

Also, the release said LBDI continues to retain a competent and highly dedicated workforce to deliver the excellent banking

services it is known for.

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One Comment

  1. And how much did this company responsible for the botched search for paid? Did we have a clause in the agreement to penalize the search firm, or at least, hold it to account, for something like this? How was the search firm selected? Can the board answer these questions in addition to accepting the resignation?

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