Kwahuhene Daasebre Akuamoah Destooled Over Alleged Fraud

Daasebre Akuamoah Agyapong II, the Paramount Chief of Kwahu and ex Board Chairman of the Agricultural Development Bank (ADB), has reportedly been destooled. 

The destoolment was done by the Kwahu Traditional Council and it comes on the back of several allegations levelled against him in a financial extortion scandal as ADB board chairman. 

According to the traditional authorities, Daasebre's destoolment was necessary to purge the town of Kwahu of all embarrassment and to prevent further agitation from community members who had earlier petitioned the Council for his destoolment.

The rites of destoolment, which allegedly took place on October 19, 2024, included the pouring of libation and prayers to finalize the destoolment. 

Daasebre allegedly extorted GH¢2 million from one Mr Collins Aboagye, a businessman, under the pretext of facilitating a GH¢12 million loan.

Mr Aboagye said despite paying a facilitation fee of GH¢50,000 to Daasebre Akuamoah, in addition to the said loan amount, it was long overdue when Dasebre finally paid him back the money. 

Earlier, the Bank of Ghana (BoG) also directed Daasebre Akuamoah Agyapong II, the Board Chairman of the Agricultural Development Bank (ADB), to step down from his position with immediate effect in connection with the scandal. 

The BoG was worried about the negativity that the scandal was receiving and how it affected ADB's integrity.