Union wants MD, Board of ADB removed over allegations of rot

The Union of Industry, Commerce and Finance Workers (UNICOF), says government must compel the Managing Director of the Agricultural Development Bank (ADB) to proceed on leave while investigations begin into allegations of corruption at the bank.

The workers want Mr. Stephen Kpordjih and members of the ADB Board to be made to step aside for the investigations.

A number of controversial decisions by the Bank’s management have led to massive protests from its staff.

These include a decision to sell ADB’s headquarters for 10 million dollars whilst it rents a new premises at 1 million cedis a month.

The Labour Relations Minister Haruna Iddrisu is expected to intervene in the impasse.

But the union held a press conference today, insisting that both the Managing Director and the board must go if a credible forensic audit is to be conducted.

UNICOF General Secretary, John Esiape maintained that after presiding over corrupt practices, management “should not be given the opportunity to move to the next stage.”

He also accused ADB’s management of not being truthful to the public through their interactions with the media.

Management, for instance, is reported to have said that about 60% of the bank’s staff at the head office worked in other buildings outside the Ridge Head Office and for which the bank paid rent and other utility bills. The managers argued that renting one office spacious for all the staff is actually cost-effective and has made some savings for the bank.

But Mr. Esiape said that is false.
He said just 120 workers of the over 520 head office staff worked outside the building, and that this could not constitute 60% of head office staff and a justification to sell off the office and rent a more expensive one.

UNICOF has resolved to hoist red flags at all its member institutions if the managing director and board are not removed. The workers also plan to go on demonstrations and possibly embark on strike if their demands are not met.

More Business & Finance »

This article has 0 comment, leave your comment.