BoG Sacks Kwahumanhene As ADB Chair Over Bribery Allegations

 

In a shocking move, the Bank of Ghana (BoG) has terminated the appointment of Daasebre Akuamoah Agyapong II as Board Chairman of the Agricultural Development Bank (ADB) amidst allegations of extortion and abuse of office.

Allegations of Misconduct

The controversy surrounds a petition filed by Collins Darkwah Aboagye, a businessman and Director of PRABHAT Trading Limited, who alleged that Daasebre Akuamoah Agyapong used his influential position to facilitate a loan from the ADB on two exploitative conditions: Payment of GH?50,000 for loan facilitation, and loan of GH?2 million from the approved GHC12 million loan.

Petition Details

Aboagye’s petition, dated September 12, 2024, reveals that: he was introduced to Daasebre Akuamoah Agyapong by Ankobeahene of Kwahu Abetifi, Nana Anim Dwumfuor II, he paid GH?50,000 to Daasebre Akuamoah Agyapong II in the presence of Ankobeahene, the Bank approved a GHC 12 million loan three months after agreeing to the terms and Daasebre Akuamoah Agyapong II failed to repay the GH?2 million loan despite repeated promises.

Presidency’s Response

The Presidency responded to the petition by asking Daasebre Akuamoah Agyapong to respond to the allegations within seven days.

BoG’s Directive

The BoG, citing damage to the bank’s reputation, directed Daasebre Akuamoah Agyapong to resign immediately.

Background

Daasebre Akuamoah Agyapong was appointed Board Chairman of ADB in August 2021 by President Akufo-Addo

As a chartered accountant, he was expected to support the management and staff of ADB in pursuing the company’s vision.

Below is the Letter from BoG

-BY Daniel Bampoe

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