The Bank of Ghana (BoG) has ordered Daasebre Akuamoah Agyapong II, Board Chairman of the Agricultural Development Bank (ADB), to resign immediately amid serious allegations of misconduct linked to a GHS2 million transaction.

In a letter dated Thursday, 10 October 2024, the BoG described Daasebre Akuamoah Agyapong II's continued role as “untenable” due to the significant harm the allegations have caused to the bank's reputation.

The directive was issued in accordance with Section 103 (2)(d) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (ACT 930).

The misconduct allegations surfaced after a whistleblower, Collins Darkwah Aboagye, submitted a formal petition to the Office of the President, outlining claims against the Board Chairperson.

The petition raises critical concerns regarding potential conflicts of interest, financial mismanagement, and breaches of fiduciary duty associated with the contentious GHS2 million transaction.