The Agricultural Development Bank (ADB) Board of Directors has defended the renewal of a $750,000 contract in December, stating it was a routine decision necessary to maintain essential services. In a statement, the Board clarified that the approval followed established regulations and emphasized its commitment to professionalism and stakeholder interests.
Responding to media reports questioning the timing during a governmental transition, the Board highlighted that governance at ADB operates independently of political changes. It assured that the process was conducted under the oversight of the Bank of Ghana and the Securities and Exchange Commission.
The Board reiterated that contract renewals are part of its responsibilities to ensure the bank’s seamless operations and adherence to its mandate.
