The Board Chairman of ADB Bank, Daasebre Akuamoah Agyapong II has resigned with immediate effect following allegations of extortion against him by one of the customers of the bank.
According to the bank, his resignation follows an emergency board meeting on Thursday, at which meeting he decided to step down in the best interest of the Bank.
It will be recalled that a Customer of the Bank, Collins Darkwa petitioned the Office of the President alleging that the Board Chairman who doubles as the Kwahumanhene extorted a significant amount of money from him in exchange for a GH₵12 million loan.
Read also: BoG orders Kwahumanhene to resign as ADB Board chair over alleged GH₵2m extortion The businessman detailed in his petition how the Board Chairman demanded GH₵50,000.00 up front and further loan from him for the approval of the 12 million Ghana cedis and appealed to the Presidency to help him recover a total amount of GH₵2,408,000.00 from the Board Chairman. "Under pressure from my suppliers to procure logistics for the cashew to be supplied, I had no other choice than to agree to the conditions", Mr.