The Board of Directors of Agricultural Development Bank PLC (ADB) has issued a statement addressing recent media reports and social media publications that have raised concerns over the bank's approval of certain contracts, particularly in the lead-up to the government transition set for January 7, 2025.
The statement comes in response to claims made by North Tongu MP, Samuel Okudzeto Ablakwa, who on December 26, 2024, took to Facebook to accuse officials in the outgoing Akufo-Addo/Bawumia administration of "reckless and unpatriotic" behaviour.
Ablakwa specifically pointed to ADB, where he alleged a surge in last-minute contract approvals, including a contentious electronic servicing agreement valued at $750,000 (approximately GHS12 million), awarded to Virtual Security Africa.
The contract, according to Ablakwa, had been approved just days before the government's transition, even though negotiations with the vendor were still incomplete and the agreement remained in draft form.