Bank of Ghana (BoG) has directed the Paramount Chief of Kwahu in the Eastern Region who doubles as the Board Chairman of Agricultural Development Bank (ADB, Daasebre Akuamoah Agyapong II, to immediately resign.
A statement signed by the Head of Banking Supervision, Osei Gyasi said the directive is on the back of serious allegations of misconduct against the chief, involving a GH¢2 million transaction.
The directive according to the BoG is in accordance with Section 103 (2)(d) Banks and Specialised Deposit-Taking Institutions Act, 2016 (ACT 930).
The allegation according to the Central Bank has cast a shadow over the leadership of ADB.
“Continued holding of office as a Director of the ADB has become untenable due to the irreparable damage these events have caused to the image of the bank,” the statement read in parts.
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Read BoG’s statement below:
