The attention of the Board of Directors of Agricultural Development Bank PLC (ADB) has been drawn to media publications with captions such as the above. Similar content has also been circulated widely across various social media platforms.  

The Board of Directors would like to clarify that not only is ADB a public company limited by shares, it is also a bank and listed on the Ghana Stock Exchange. Thus, it is regulated by both the Bank of Ghana and the Securities and Exchange Commission. These oversight and regulations ensure that the Board of Directors functions within the confines of regulation. 

As a company, ADB acts through its duly mandated corporate organs, including the Board of Directors.  

To ensure effective and efficient corporate governance and guarantee its continuous safe operation, the Board does not freeze or abdicate its responsibility after general elections.  

The ADB Board, in the exercise of its duties, has approved the renewal of some existing but expiring contracts to ensure the continuous provision of critical services to the bank. Every contract renewal approved by the Board was within its authority and in furtherance of the objectives of the bank. 

The Board would like to assure its esteemed customers, shareholders, and the general public that it remains focused and is effectively and professionally discharging its duties to safeguard the interests of all its stakeholders. 

Signed 

Ag. Chairman
Board of Directors
Agricultural Development Bank PLC.