The Bank of Ghana has asked Daasebre Akuamoah Agyapong II, the Omanhene of the Kwahu Traditional Area, to resign as chairman of the Agricultural Development Bank (ADB) Board.
The directive came after allegations of misbehaviour concerning a transaction for GH¢2 million were deemed to be false.
In a letter to Agyapong II, the central bank stated that his position was untenable following the issue.
According to Citi News, the directive complies with Section 103(2)(d) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (ACT 930).
The allegations against Daasebre Akuamoah Agyapong II initially became public after a whistleblower filed a formal petition with the President’s office.
Aboagye’s appeal alleges misconduct involving the Board Chairperson and the GH¢2 million transaction.
According to reports, the acquisition could lead to conflicts of interest and impaired fiduciary duties.
Daasebre Akuamoah Agyapong II was named chairman of the board of directors in 2021.
