The bank announced his resignation after an emergency board meeting on Thursday, October, 10, 2024, where he chose to step down for the bank's benefit.
The resignation follows Bank of Ghana's recent directive to Daasebre Akuamoah Agyapong II to resign immediately.
In a letter dated October 10, 2024, the Bank of Ghana stated that his continued role as a Board Chair of ADB was untenable due to the damage these events had caused to the bank's reputation.
The directive, in accordance with Section 103 (2)(d) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (ACT 930), required him to resign and hand over his duties immediately.