ADB Board Chair resigns over alleged extortion

Daasebre Akuamoah Agyapong II, the Chairman of ADB Bank, has resigned immediately amid allegations of extortion from a bank customer. His resignation was announced following an emergency board meeting yesterday, where he chose to step down in the bank’s best interest.

The allegations originated from a petition by businessman Collins Darkwa, who accused Agyapong—also the Kwahumanhene—of soliciting bribes in exchange for approving a 12 million Ghana cedis loan. Darkwa claimed that Agyapong demanded an upfront payment of 50,000 Ghana cedis, along with additional sums as conditions for loan approval. He alleged that he faced pressure from suppliers to comply and, despite making these payments, Agyapong continued to request more money, threatening to undermine Darkwa’s business if he refused.

Darkwa is now pursuing the recovery of 2,408,000 Ghana cedis from the former chairman. Agyapong’s resignation has been viewed positively for ADB Bank, recognized as one of the leading financial institutions in the country.