The tenure of the embattled Managing Director of the Agricultural Development Bank (ADB), Stephen Kpordzih has been extended for six months, citifmonline.com has gathered.
[contextly_sidebar id=”uydfsCooqJILTQvsOg6EOkAfLZ1YFkDI”]This is according to a letter of extension of duration of contract signed by board chairman, Nana Soglo Alloh IV, addressed to Stephen Kpordzih and copied to the secretary of the President John Mahama, Chief of staff and the Finance Minister.
The letter which informed him of the extension is dated September 3, 2015, but this takes retrospective effect from August 1st, 2015.
This is because Mr Kpordzih’s tenure expired on July 31st 2015 but he had remained in office.
The letter further stated, “the extended period will be under the same terms and conditions of contract existing immediately prior to the extension.”
There has been massive opposition to Stephen Kpordzih’s continuous stay in office by the bank’s workers’ union, accusing of mismanaging the bank.
They subsequently called for his resignation and the dissolution of the board of governors.
The workers accused the MD and the board of selling the bank’s head office for $10 million only to rent a facility at GH¢1 million a month.
In an earlier interview with Citi News Richard Sky, Mr Kpodzih rejected all the claims by the workers and described the allegations as false.
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By: Norvan Acquah – Hayford/citifmonline.com/Ghana