The Bank of Ghana (BoG) has instructed Daasebre Akuamoah Agyapong II, the Chairman of the Board of the Agricultural Development Bank (ADB), to resign from his position effective immediately. This decision follows serious allegations of misconduct related to a transaction valued at GH¢2 million, which has raised concerns regarding the leadership of ADB.
In a letter dated October 10, addressed to Daasebre Akuamoah Agyapong II, who also holds the title of Kwahumanhene, the BoG stated that his continued tenure as a Director of the ADB has become untenable due to the significant damage these allegations have inflicted on the bank’s reputation.
The directive, as per the BoG, is issued in accordance with Section 103 (2)(d) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (ACT 930), mandating him to resign immediately from his role as a director of the ADB and to ensure a proper handover.
The allegations against Daasebre Akuamoah Agyapong II were initially brought to light through a formal petition submitted to the Office of the President by a whistle-blower named Collins Darkwah Aboagye. In his petition, Mr. Aboagye detailed accusations of misconduct involving the Board Chairperson concerning the GH¢2 million transaction, which is alleged to involve potential conflicts of interest, financial mismanagement, or other actions that may have undermined the fiduciary responsibilities expected of someone in such a senior position.
