The Agricultural Development Bank has denied media reports that its MD Stephen Kpordzih s stepping down by January 2016.  

The denial follows reports that the MD’s contract has not been renewed by the Board, per a letter handed over to him on December 29, 2015.

But in statement, the bank said “We wish to state emphatically that there has not been any communication from the board to the Managing Director about the non-renewal of his contract”

According to the statement, its last Board meeting was on the 23rd December 2015 and the future status of the Managing Director, Mr. Stephen Kpordzih was not part of the agenda and was never discussed since his contract extension has not expired.  

It adds that the Marketing & Communications department of the bank is always available for any clarification on issues and we hope the radio station will explore the cordial relationship that exists.

The Bank is however assuring its customers to disregard the news item and be assured of a successful IPO by the Bank.