{"id":114360,"date":"2015-05-07T10:18:24","date_gmt":"2015-05-07T10:18:24","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=114360"},"modified":"2015-05-07T11:16:55","modified_gmt":"2015-05-07T11:16:55","slug":"bank-of-ghana-to-investigate-adb","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2015\/05\/bank-of-ghana-to-investigate-adb\/","title":{"rendered":"Bank of Ghana to investigate adb"},"content":{"rendered":"
Citi Business News<\/strong> has gathered the Bank of Ghana (BoG) is to set up a committee to look into allegations of financial malfeasance raised against the Managing Director (MD) and board members of Agricultural Development Bank (adb).<\/p>\n [contextly_sidebar id=”4NgSJGkXsBK5NkPhdrJw0I7BgQqBDGaQ”]The bank’s MD and board members have been accused by the Union of Industry, Commerce and Finance Workers (UNICOF) of presiding over corrupt practices at the bank.<\/p>\n According to the union \u201ccontrary to the impression being created by management over the years that the bank is doing well, our financials for 2014 indicates that the bank is fast sinking and urgent steps needs to be taken to salvage the dwindling fortunes of the bank\u201d.<\/p>\n Management and board of the bank have also been accused by the union of selling the bank’s assets to cronies and among themselves.<\/p>\n Management’s decision to also sell adb\u2019s headquarters for $10 million whilst it rents a new premises at GHC 1 million have also been criticized by the union.<\/p>\n