Former Cal Bank CEO Frank Adu Jnr has revealed he was forced into early retirement by the Bank of Ghana, but says he holds no bitterness about how his nearly two-decade leadership at the bank ended.
Speaking on JoyNews' PM Express on Monday, June 30, the renowned banker responded candidly when asked about the circumstances surrounding his exit. "You mean my forced retirement from Cal Bank?" he asked, before confirming, "Well, I say forced because I had a contract which hadn't expired, and the Bank of Ghana Governor thought that he would use this administrative decision to cause me to take early retirement, and I bless him for it, because I think I've profited from that." He made it clear that his grievance was with the administrative process, not with individuals often blamed for shakeups in the financial sector. "I did not blame anything on Ken Ofori-Atta," he stated.
Mr.
Adu described how he could have challenged the legality of the Bank of Ghana's action. "I know I made him (Dr Ernest Addison) aware of the fact that it is not right for him to do what he's doing.
