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General News of Wednesday, 13 May 2015

Source: The Informer

ADB former Board Chair exposed

Contrary to claims by Mr. Ibrahim Adams, former Board Chairman of the Agricultural Development Bank (ADB) that he had never put forward any loan application for US$1,000,000.00 facility from the bank under reference, documents available to The Informer reveal otherwise.

Mr. Ibrahim Adams, for some strange reasons, though has never been mentioned anywhere in connection with the on-going blistering attacks on the Management of ADB and its board, decided to wade into the recent happenings at the state-owned financial institution.

Speaking on Adom FM on Monday, May 11, 2015, Mr. Ibrahim Adams pointed out that he has not applied for any loan facility from the bank.

However, credible documents in the possession of The Informer, revealed that on December 9, 2014, an application by BRAVA VENTURES LIMITED, with account number 8091010083008801, duly signed by Mr. Ibrahim Adams, the Managing Director of that company, was received by the bank for a facility of GH¢3,360,659.25 (US$1,000,000.00).

It is also on record that, as then board chairman, Mr. Ibrahim Adams, in a clear conflict of interest situation, used his position to acquire a parcel of land at old Tamale Airport Residential Area, in the name of a company called PURELINKS DISTRIBUTION TRADING SUPPLIES.

For the avoidance of doubt we humbly entreat you to stay glued for more on Mr. Ibrahim Adams and his tenure as board chairman of ADB.