Board Chairman of the Agricultural Development Bank, Daasebre Akuamoah Agyapong II, has resigned amid allegations of extortion from a bank customer.
The bank stated that Daasebre Akuamoah Agyapong II’s resignation came after an emergency board meeting on Thursday, October 10, where he chose to step down in the bank’s best interest.
This decision follows an order from the Bank of Ghana (BoG) on October 11, instructing the ADB Board Chairman to resign immediately and honourably.
The allegations stem from a petition by customer Collins Darkwa, who claims the Board Chairman, also the Kwahumanhene, extorted money from him in exchange for a GH₵12 million loan.
Mr Darkwa alleged that the Board Chairman demanded an upfront payment of GH₵50,000 and additional funds for the loan’s approval, ultimately appealing to the presidency to recover GH₵2,408,000 from the Board Chairman.
“Under pressure from my suppliers to procure logistics for the cashew to be supplied, I had no other choice than to agree to the conditions,” Mr. Darkwa said.
Despite fulfilling these demands, Mr. Darkwa claims that Daasebre continued to pressure him for additional funds, threatening to use his position to frustrate the business if he did not comply.
Meanwhile, the resignation of the Board Chairman has brought a sigh of relief to the bank which many consider as one of the best-performing local banks.
The swift decision is also reassuring to customers and the general public of the bank’s commitment to good corporate governance and best practices.
