The floatation of the shares of the Agriculture Development Bank (ADB) on the stock exchange has had its ups and downs. As you read these pieces, there is an injunction on the process towards the IPO because the person who has taken that action did not get the GH1m he allegedly asked from the bank.
The person in question is a 57-year-lawyer, who is also the New Patriotic Party (NPP) Member of Parliament (MP) for the Efutu in the Central Region, Mr. Alex Kwamina Afenyo-Markin.
It will be recalled that it was this same MP who filed the initial court case trying to stop the IPO some months ago. He then withdrew the case and as the bank started the process of listing on the Stock Exchange, he allegedly demanded the GH1million to stop placing the injunction.
It is not clear whether monies changed hands before the last withdrawal but investigations are ongoing.
Meanwhile, some of the names which have come up include some MPs and journalists working for some private radio stations in Accra.
Some of the interesting things the MP said include “people have chopped and left us, we must also chop. We are tired,” and “we are expecting our District Assemblies Common Fund by early August.” The Daily Dispatch
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