After securing the position of President and Chief Executive Officer (CEO) of the Liberia Bank for Development and Investment (LBDI) with false academic credentials, Mr. Deo Delaney has finally bowed out of office through a letter of resignation he tendered in to the Board of Directors and has subsequently been replaced by his former principal deputy, Mr. Mark Akwenah Nyeamene who is currently serving as General Manager as the Acting President and CEO.
The information about Delaney’s departure was made public through a press statement issued by the Board and signed by its Chairman, Samuel D. Tweah, Jr, Minister of Finance and Development Planning dated December 6, 2022.
“In December 2021, the Board of Directors (Board) of the Liberian Bank for Development and Investment (LBDI) engaged the services of a recruitment firm to search for suitable candidates for the position of President/CEO of LBDI. That exercise identified Mr. Deo Z. Delaney as a suitable candidate for the position, following which the Board selected Delaney as President/CEO.
Effective December 6, 2022, the Board has designated Mr. Mark Akwenah Nyeamene, Jr, the General Manager/DCEO, 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 statement concluded by assuring the general public, particularly its customers, shareholders, potential investors and all other stakeholders, that LBDI remains strong in its operations and that the depositors’ funds are safe and secure. “Also, LBDI continues to retain a competent and highly dedicated workforce to deliver the excellent banking services it is known for”, the statement concluded.
Hailed initially upon his ascendency as a young professional he was thought to be, his departure is a complete let down to some people who saw his climbing at the top of LBDI management from outside as an encouragement and many good things to come the way for hard work, scholarship and dedication.
His waterloo came from classified information pushed to the public by insiders, some of whom felt he should not have been appointed to the exalted position in the first place after coming the least among the 6 persons listed for further aptitude test and interview besides presenting questionable credentials to clinch the job.
The decision of the Board to launch its own investigation after activist Martin Kollie had posted all the inaccuracies in the papers he used to apply for the job, has been seen as a major step in the right direction and could go a long way in reinventing the battered image the scandal created for one of Liberia’s oldest financial institutions.