This denial comes on the back of accusations against the MP who questioned moves by the Bank to issue an Initial public Offer.

In the later part of last year, there were allegations against MP for Effutu constituency, Afenyo Markin for demanding an amount of 400,000 dollars from agricultural development bank (ADB) in order to withdraw a suit against the bank.

In the same allegation, ADB was also accused of paying an additional 500,000 dollars into an account in the United States belonging to the sister of the MP.

Again a cedi equivalent of 250,000 cedis was allegedly paid to Afenyo Markin in an act of extortion.

In a statement issued by lawyers of ADB in response to the accusers, the bank said “there is no way the bank will employ that quantum of funds simply to get an IPO through by any such illegal means or that the process had been threatened by a court action and there was therefore the need to do something to get the process going.”

The statement further indicated that “assuming without admitting that there was ever any such approach by the Hon. Afenyo Markin, we wish to state categorically that no money from the bank has ever been paid or will ever be paid for this kind of cause.”

The letter signed by M.K Amoakohene, General Counsel for the ADB concluded by saying “we wish to say that the bank has not paid any monies to Hon. Afenyo Markins or anyone connected to him.”

By Martin Asiedu-Dartey|tv3network.com|Ghana
Twitter: @NewsyMartin