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ADB loan saga: Destooled Kwahumanhene dragged to CHRAJ

Chief at the center of ADB loan controversy faces CHRAJ investigation

Elvis Darko by Elvis Darko
January 13, 2026
in Local, Main
0
ADB Kwahumanhene CHRAJ

Destooled Kwahumanhene, Daasebre Akuamoah Agyapong II

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The Abene Krontihene, of Kwahu, Nana Simpe Owiredu III, and the Kwahu Kyeamehene, Nana Asiedu Kwaneng IV, Kingmakers of the Abene Council of Kwahu, have petitioned the Commission on Human Rights and Administrative Justice to investigate the conduct of the destooled Kwahumanhene, Daasebre Akuamoah Agyapong II, known privately as Eugene Asante Boadi, during his time as the Board Chairman of the Agricultural Development Bank (ADB).

The petition seeks a comprehensive investigation into the conduct of Asante Boadi, who is accused of engaging in acts of conflict of interest, abuse of office, and administrative injustice.

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The issue began in 2021 when Collins Darkwah Aboagye, a businessman from Prabhat Trading Limited, applied for a GH₵12,000,000 (twelve million cedis) credit facility from the bank.

The petition alleges that after experiencing delays from the bank, the businessman, through the Abetifi Ankobeahene, Nana Anim Dwumfour II, arranged for a meeting with the former chairman at his private residence. During this meeting, the former chairman reportedly agreed to facilitate the loan under two conditions.

First, Boadi allegedly demanded a facilitation fee of fifty thousand cedis (GH₵50,000). Secondly, he reportedly required the businessman to provide him with a personal loan of two million cedis (GH₵2,000,000) from the credit facility once it was disbursed. The former chairman is alleged to have used his official influence to ensure the funds were paid.

Subsequently, they claimed that the ADB Tema branch manager was instructed to contact the businessman to remind him of his personal financial obligation to the chairman. The businessman eventually transferred the two million cedis (GH₵2,000,000) into an account under the name GoodRide Enterprise at the bank’s head office.

Despite promises to repay the amount within two weeks, the petition states that the former chairman failed to do so and later used threats to avoid repayment. This nonpayment led Darkwa Aboagye to formally petition the former President, Nana Akufo-Addo, in September 2024, which in turn led to an investigation by the Bank of Ghana.

The central bank subsequently determined that the chairman’s actions had caused irreparable damage to the institution’s image and directed him to resign, which he did on October 11, 2024.

The traditional authorities in Kwahu also conducted their own inquiry. While the former chairman initially denied the allegations, the kingmakers claim he later admitted to the acts of extortion during a meeting with the Abene Council and pleaded for clemency. This admission formed the basis for his destoolment as the Kwahumanhene.

The petition to the commission now seeks to finalise the accountability process by determining if his actions violated the code of conduct for public officials.

The petitioners argue that the evidence, which includes banking records and the findings of the central bank, warrants a full intervention by the commission to address the administrative injustice and breach of public trust in the case.

Tags: Agricultural Development BankCHRAJGhana newsKwahumanhene
Elvis Darko

Elvis Darko

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