Ghana’s President Approves ADB Embattled Boss Tenure Extension By Six Months

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The Managing Director of the Agricultural Development Bank (ADB), Stephen Kpordzih, will continue to steer the affairs at the bank after his contract was extended by six more months, reports Footprint to Africa.

A letter sighted by Footprint to Africa and signed by Nana Soglo Alloh IV, the Board Chairman, stated that President John Dramani Mahama approved the extension of Mr Kpordzih by six months.

“The extended period will be under the same terms and conditions of the contract existing immediately prior to the extension,” the letter said.

Footprint to Africa gathered that Kpordzih has been a subject of labour unrests within the banking sector a few months earlier after staff accused him of misappropriating funds, calling for his resignation and the dissolution of the board of governors.

Footprint to Africa also learnt that the workers accused the Managing Director and the board of selling the bank’s head office for $10 million only to rent a facility at GH¢1 million per month.

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