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

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

The BoG cited irreparable damage to ADB’s image, stating that his continued leadership was untenable.

The directive follows a formal petition by whistleblower Collins Darkwah Aboagye, who detailed potential conflicts of interest and financial mismanagement related to the transaction.

BoG’s action is based on the Banks and Specialised Deposit-Taking Institutions Act, 2016 (ACT 930).