{"id":111602,"date":"2015-04-27T09:29:07","date_gmt":"2015-04-27T09:29:07","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=111602"},"modified":"2015-04-27T12:10:03","modified_gmt":"2015-04-27T12:10:03","slug":"dissolve-adb-board-and-sack-md-workers","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2015\/04\/dissolve-adb-board-and-sack-md-workers\/","title":{"rendered":"Dissolve Adb board and sack MD – Workers \u00a0\u00a0\u00a0\u00a0"},"content":{"rendered":"
The workers of the Agricultural development bank (Adb) are calling for the immediate dissolution of the board of directors of the bank and the dismissal of the Managing Director, Stephen Kpordzih to save the financial institution from imminent collapse.<\/p>\n
\u201cWe want the immediate and unconditional dissolution of the board of directors and the immediate and unconditional removal of the managing director\u201d a resolution passed at an emergency national executive committee (NEC) meeting of the ADB staff union in Accra stated. The workers are further demanding a \u201cforensic audit of the bank within the shortest possible time.\u201d<\/p>\n
The bank which was set up in 1965 by Act 286 is one of the only two wholly publicly-owned banks in Ghana.<\/p>\n
<\/a><\/p>\n The Government owns 52% of the shareholding, with the remaining 48% held by the Financial Investment Trust on behalf of the Bank of Ghana.<\/p>\n The Securities and Exchange Commission (SEC) recently gave the bank the approval to go ahead and offer its shares to the public.<\/p>\n The\u00a0bank is expected to offload a little over 100 million\u00a0shares to the public\u00a0by the end of this month with the hope to give out\u00a075 percent of the\u00a0Bank and raise about 300 million\u00a0Ghana cedis.<\/p>\n