Joy News has uncovered questionable expenditures by the Agriculture Development Bank in relation to furniture for its new office and a recent media briefing.

Managing Director of ADB, Stephen Kpordzi told journalists at a media briefing recently that the bank did not pay for the furniture at its new office building at the Accra Financial Centre.

But documents available to Joy News indicate that ADB paid money to that effect.

Joy News’ Manasseh Azure Awuni who has been following the ADB story reports that a similar questionable expenditure was made in the recent media briefing.

He said when questions were raised about the one million Ghana Cedis monthly rent to be paid by the ADB at the Accra Financial Centre, the Managing Director, Stephen Kpordzi explained amongst other things that the bank did not have to buy are furniture for the new office.

Documents available to Joy News indicate that on October 13, 2014, ADB paid one million, five hundred and ninety thousand cedis to (GHC1, 590,000) BESPOKE Furniture for supplies for the new office.

Sources say this is only 70 percent of the total amount paid for the furniture.

Another expenditure which is being questioned is an amount of 100,000 cedis purportedly paid to Spectra Innovations in respect of media briefing on the initial public offering.

It has emerged that the press briefing was held at the ADB boardroom and journalists who attended were not given even water.

There were no invitation letters to media houses which covered the press briefing.

It is therefore not clear what the Ȼ100,000 was used for.

Joy News has not been successful in our attempt to get the bank’s management to explain the expenditure at the time of this publication.