Member of Parliament for Effutu, Alexander Afenyo Markin, is threatening to go the full scale of the suit he has brought against the Agricultural Development Bank (ADB) until the right thing is done.
“The ADB case will never be withdrawn”, he said in an interview with Randy Abbey on Metro TV Thursday.
He was reacting to his alleged involvement in a bribery scandal that has rocked the bank.
The Effutu lawmaker had a week ago, slapped an injunction on the bank’s Initial Public Officer (IPO) and prayed to the court to compel it to first seek Parliamentary approval before going ahead with the transaction.
The bank on Monday served notice of the indefinite suspension of its IPO that would have paved the way for it to list on the Ghana Stock Exchange.
A statement signed by its Resource Coordinator, Justice Apenkwa directed its agents to return all shares sold to the returning officer.
“Please be advised of the suspension of the Initial Public Offer of ADB shares until further notice. Kindly transfer what you have already sold to the returning officer/Financial Controller,” the statement in part read.
What triggered the suspension was not discussed by the bank but industry players attributed the decision to the court action brought against it by the Effutu legislator.
It was the second time the bank had suspended the IPO which was scheduled to close in October, 2015.
On the same day (Monday), reports went viral on social media platforms and on some radio stations suggesting that some funds had changed hands between the bank and Mr. Markin.
An audio tape recording which was played on some radio networks in Accra had a conversation between two men discussing how they plotted against the bank to make some money using the court action against the IPO as bait.
One of the men, it was alleged, was the Effutu legislator.
By: Kasapafmonline.com/Ghana
