The Office of the President has written to the Paramount Chief of Kwahu, who's the Board Chairman of the Agricultural Development Bank (ADB) to respond to allegations of extortion and abuse of office brought against him by a businessman.
The businessman, Collins Darkwah Aboagye, a Director and shareholder of PRABHAT Trading Limited in the petition dated September 12, 2024, and cited by Myjoyonline.com, said the Board Chair of the state-owned Agricultural Development Bank (ADB used his influence to help him secure a loan from the Agricultural Development Bank.
According to him, he was in urgent need of a loan in 2021 to facilitate his business of trading in commodities like cashews and soybeans for both local and international markets.
Having struggled to secure the loan directly from the bank and being concerned about meeting business timelines, he was introduced by a sub-chief to the Board Chairman in the early part of 2022, who agreed to facilitate the loan process quickly but on two conditions - That he would pay him GHC50, 000 cedis for the facilitation, and will also loan him an amount of two million cedis from the 12 million cedis loan once the loan was approved for him.