The Bank of Ghana (BoG) has instructed Daasebre Akuamoah Agyapong II, the Board Chairman of the Agricultural Development Bank (ADB), to step down immediately following serious allegations of misconduct tied to a GH¢2 million transaction.
In a letter dated October 10, 2024, BoG informed Daasebre Akuamoah Agyapong II, who also serves as the Kwahumanhene, that his continued tenure as ADB’s Board Chairman was no longer tenable due to the damage the allegations had caused to the bank’s reputation. The directive was issued in accordance with Section 103 (2)(d) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (ACT 930).
The allegations against Daasebre Akuamoah Agyapong II surfaced following a formal petition filed by whistleblower Collins Darkwah Aboagye, who raised concerns over the handling of the GH¢2 million transaction. According to the petition, the transaction involved potential conflicts of interest, financial mismanagement, or other actions that may have undermined the fiduciary responsibilities entrusted to the Board Chairman.
The BoG’s intervention has further escalated the scrutiny surrounding ADB’s leadership, placing a spotlight on governance and accountability at the bank.
SOURCE: http://dew360.net
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