Rejoinder: Kwahumanhene has not been destooled – Statement

It stated that “no formal charges have ever been brought against the Kwahuhene that would justify any destoolment process.

Furthermore, he has not been found liable of any misconduct related to his role as Chairman of the Board of the Agricultural Development Bank.”

On Friday, October 11, 2024, the Kwahumanhene, Daasebre Akuamoah Agyapong II, resigned as the Board Chairman of the Agricultural Development Bank PLC (ADB) following a directive from the Bank of Ghana, after a client of the bank, Collins Darkwa Aboagye, petitioned the Office of the President pleading for presidential intervention to help retrieve GH¢2.406 million owed him by the then ADB board chairman.

The BoG maintained that the Kwahumanhene’s continuous holding of office as a director of the bank was becoming untenable due to the irreparable damage the events had caused the image of ADB.

Following the directive of the central bank, Daasebre Agyapong resigned from his role as Board Chairman of ADB.

However, in the press statement, the demand for his (Daasebre) resignation by the Banking Supervision Division of the Bank of Ghana came without prior opportunity for the Kwahuhene to respond to the allegations, which raises concerns about due process.

Given the circumstances, the Kwahuhene decided to temporarily step down to facilitate a proper resolution of the issue.

However, the office finds it confusing despite the absence of any findings against Daasebre, a video falsely suggesting his destoolment is being circulated.