ADB Chairman Resigns After Emergency Meeting Over Extortion Allegations
The Board Chairman of ADB Bank, Daasebre Akuamoah Agyapong II, has resigned with immediate effect following serious allegations of extortion levied against him by a customer of the bank.
His resignation came after an emergency board meeting on Thursday, during which he opted to step down in the best interest of the institution.
The incident that triggered this decision involves a petition filed by Collins Darkwa, a businessman, to the Office of the President.
In the petition, Darkwa accused the Board Chairman—who also holds the traditional title of Kwahumanhene—of demanding a significant amount of money to approve a GH₵12 million loan.
According to the details, the Chairman allegedly requested an initial GH₵50,000 up front, followed by additional payments, totaling GH₵2,408,000, in return for facilitating the loan approval.
Mr. Darkwa claims he was coerced into complying with these demands, given mounting pressure from his suppliers to procure logistics for a cashew supply deal.
However, despite meeting these conditions, he asserts that the Chairman continued to make further monetary demands, threatening to obstruct his business if he failed to comply.
The resignation of Daasebre Agyapong II has been widely seen as a positive move for ADB Bank. It is viewed as a step toward restoring public confidence and reinforcing the bank’s commitment to corporate governance and ethical standards.
ADB Bank, known for its accolades including twice winning the Ghana Banking Award for Most Socially Responsible Bank and the Best Corporate Social Responsibility Bank at the Ghana Business Awards, remains a leading local bank.
Hope it doesn’t end there. This may just be a tip of the iceberg