The management of the Adb bank has rejected claims by the workers that the building which housed the company’s headquarters in Accra has been sold for GH¢10 million.
At a press conference to address the allegations, Managing Director of the bank Stephen Kpordzih said though they had intended to sell the building, the highest bidder failed to pay the amount.
[contextly_sidebar id=”eoExPjs21naVOQYRdvqZhGpy6ZJ65JNw”]Workers of the company had accused Adb’s management of selling the building and renting a new one which cost the company GH¢1 million per month.
The workers had called for the dissolution of Adb’s board and the dismisasal of the Managing Director to save the financial institution from imminent collapse.
They claim that ever since the MD took over the administration of the company, the bank had moved from being one of the best financial institutions in the country to one of the worst performing ones, hence their call.
But management of the company during a press conference in Accra on Thursday denied the allegations.
Citi Business News‘ Vivian Kai Mensah reported that according to the MD of Adb, a Ghanaian company who won the bid to buy the building for GH¢10 million had till date not paid.
GH¢5.6 million paid as rent on new building
Speaking to the media, MD of the bank, Stephen Kpordzih said they had paid GH¢5.6 million as rent for six months for the new building.
The Securities and Exchange Commission (SEC) recently gave the bank approval to list its shares on the stock market.
The bank is expected to offload a little over 100 million shares to the public by the end of this month with the hope to give out 75% of the Bank and raise about GH¢300 million.
Minority to drag Adb to court
However, the minority in Parliament had threatened to drag the bank to court if the matter is not brought before Parliament for scrutiny.
The MD said the matter has been referred to the Finance Minister.
Non-performing loans GH¢260 not GH¢600
He further refuted claims that the companies non-performing loans stand at GH¢600 million saying it is GH¢ 260 million instead.
He assured that the company is vigorously pursuing the loan defaulters.
–
By: Godwin Akweiteh Allotey/citifmonline.com/Ghana
Follow @AlloteyGodwin