LBDI President resigns over fake academic credentials

Deo Delaney

The New President of the Liberia Bank for Development and Investment ( LBDI) Mr. Deo Z. Delaney has resigned after questions about his  qualifications and credentials, before assuming the post as President and CEO of Liberia’s leading Financial Banking Institution.

Mr. Delaney resignation comes after intense Pressure from Social Media and Human Right Activist, Martin K.N. Kollie, that Mr. Delaney fake  his academic credentials.

The  Activist, had posted on his official Social handle urging the Board of Directors of directors of Liberian Bank for Development and Investment (LBDI), to launched an Investigation and subsequently revoked the appointment of its CEO and President Mr. Deo Delaney.

Mr. Kollie has however questions, that the profile of Mr. Delaney’s states that he did Postgraduate Studies in Investment and Behavioral Finance at the Harvard University in Cambridge, Massachusetts, United of America, something the Activist stated Sadly, the University does not offer such program at postgraduate level. 

Kollie post, added that professionals in Liberia must pressure the Board of the Bank and the Central Bank of Liberia to take immediate action. By the way, the CBL approved his appointment in keeping with the Law and it also has the power to dismiss him, failing to act will create a reputational risk for the bank; endangering depositor’s funds and increasing systemic risk of the financial system in Liberia.

Less than 24 hours after the Activist research  and pressure mounting on the Board of Directors of LBDI release a press statement Tuesday December 8, 2022 stating that Mr. Delaney did not meet the qualification to serve as president of the bank and  asked his deputy,  Mr. Mark Akwenah  Nyeamene to act in his place until a new head is vetted.

In  Press Release, LBDI Board said it  attention has been drawn to inaccuracies, in the academic qualifications, supplies to the recruitment of the firm as a result of this anomaly, Mr. Delaney has tender in his resignation and accepted by the Board of Directors of the Liberian Bank for Development and Investment (LBDI).

“In furtherance, the Board of Directors, stated as of December 6, 2022, it has designated Mr. Mark Akwenah Nyeamene, Jr.  as General Manager) DCEO, of LBDI and the public is encourage to accord Mr. Nyeamene, the due courtesy in performing his duties, while the Board takes a next steps to recruiting it’s new President / CEO”, the statement added.


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