BoG directs Kwahumanhene to resign as ADB Board chair over GH¢2m fraudulent transaction

The Bank of Ghana (BoG) has ordered Daasebre Akuamoah Agyapong II, Board Chairman of the Agricultural Development Bank (ADB), to resign immediately due to allegations of misconduct involving a GH¢2 million transaction.

The BoG's directive, issued on October 10, cites the damage caused to the bank's reputation.

This action follows a whistleblower's petition, accusing Agyapong of potential conflicts of interest and financial mismanagement.

The BoG’s decision is based on Section 103 (2)(d) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (ACT 930).