{"id":112703,"date":"2015-04-30T12:29:32","date_gmt":"2015-04-30T12:29:32","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=112703"},"modified":"2015-04-30T13:58:29","modified_gmt":"2015-04-30T13:58:29","slug":"we-havent-sold-adb-building-for-gh%c2%a210m-bank-management","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2015\/04\/we-havent-sold-adb-building-for-gh%c2%a210m-bank-management\/","title":{"rendered":"We haven\u2019t sold adb building for GH\u00a210m \u2013 Bank management"},"content":{"rendered":"

The management of the Adb bank has rejected claims by the workers that the building which housed the company\u2019s headquarters in Accra has been sold for GH\u00a210 million.<\/p>\n

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.<\/p>\n

[contextly_sidebar id=”eoExPjs21naVOQYRdvqZhGpy6ZJ65JNw”]Workers of the company had accused Adb\u2019s management of selling the building and renting a new\u00a0one which cost the company GH\u00a21 million per month.<\/p>\n

The workers had called for the dissolution of Adb\u2019s board<\/a><\/strong><\/span> and the dismisasal of the Managing Director to save the financial institution from imminent collapse.<\/p>\n

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.<\/p>\n

But management of the company during a press conference in Accra on Thursday denied the allegations.<\/p>\n

Citi Business News<\/strong>‘ Vivian Kai Mensah reported that according to the MD of Adb, a Ghanaian company who won the bid to buy the building for GH\u00a210 million had\u00a0till date not paid.<\/p>\n

\"adb\"<\/a>
Adb MD<\/figcaption><\/figure>\n

GH\u00a25.6 million paid as rent on new building<\/strong><\/p>\n

Speaking to the media, MD of the bank, Stephen Kpordzih said they had paid GH\u00a25.6 million as rent for six months for the new building.<\/p>\n

The Securities and Exchange Commission (SEC) recently gave the bank approval to list its shares on the stock market.<\/p>\n

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\u00a2300 million.<\/p>\n

Minority to drag Adb to court<\/strong><\/p>\n

However, the minority in Parliament had threatened to drag the bank to court<\/a><\/strong><\/span> if the matter is not brought before Parliament for scrutiny.<\/p>\n

The MD said the matter has been referred to the Finance Minister.<\/p>\n

Non-performing loans GH\u00a2260 not GH\u00a2600<\/strong><\/p>\n

He further refuted claims that the companies non-performing loans stand at GH\u00a2600 million saying it is GH\u00a2 260 million instead.<\/p>\n

He assured that the company is vigorously pursuing the loan defaulters.<\/p>\n

–<\/p>\n

By: Godwin Akweiteh Allotey\/citifmonline.com\/Ghana
\nFollow @AlloteyGodwin<\/a>
\n