Kwahuhene Cleared: EOCO Probe Finds No Evidence of Financial Wrongdoing

Daasebre Akuamoah Agyapong II, the Kwahuhene and former Board Chairman of Agricultural Development Bank PLC (ADB), has been cleared of financial wrongdoing following a thorough investigation by the Economic and Organised Crime Office (EOCO). The probe found no adverse findings against the traditional ruler, and the Financial Intelligence Centre (FIC) has subsequently lifted restrictions on his accounts, restoring his full access to funds.

This development marks a significant turning point in a controversy that has cast a shadow over the traditional leader since his tenure at the state-owned bank from 2021 to mid-2024. For Ghana's business community and traditional institutions alike, the outcome reinforces the importance of due process and evidence-based resolution of disputes.

How Did the ADB Controversy Begin?

The allegations against Daasebre Akuamoah Agyapong II, known in private life as Eugene Asante Boadi, emerged from claims made by a businessman who accused the traditional ruler of demanding personal financial benefits related to a GH¢12 million commercial loan. The allegations gained significant public attention and prompted the Bank of Ghana to intervene, eventually directing him to resign as director and Board Chairman of ADB.

While the financial allegations followed him beyond the boardroom, they also became entangled with a bitter dispute over his position as Kwahumanhene. Some members of the Abene Traditional Council questioned his conduct, arguing the controversy had brought disrepute to the Kwahu stool.

What Was the Impact on the Kwahu Chieftaincy Dispute?

The dispute escalated into rival claims over the Kwahu paramount stool, with Baffour Akoto Osei presented by one faction under the stool name Daasebre Akuamoah Boateng III. This triggered a series of legal battles before the Eastern Regional House of Chiefs and the courts.

On June 24, 2025, the Judicial Committee of the Eastern Regional House of Chiefs granted an interlocutory injunction restraining Baffour Akoto Osei from interfering with Daasebre Akuamoah Agyapong II's functions as Omanhene of Kwahu. This ruling led to a police operation on November 17, 2025, that restored the Kwahuhene to the Abene Palace.

Following his return, Daasebre Akuamoah Agyapong II resumed his traditional duties and pledged to promote unity, peace, and development in the Kwahu Traditional Area. This commitment aligns with the growing recognition across Ghana that traditional leadership plays a vital role in driving local economic development and social cohesion.

What Did the EOCO Investigation Find?

According to the information provided, EOCO concluded its investigation into the allegations and found them to be baseless. This outcome has led the FIC to lift the restriction previously placed on the chief's accounts, closing a major chapter of the financial allegations against him.

The EOCO result adds a new dimension to the ongoing narrative. It demonstrates that Ghana's investigative institutions can conduct thorough, independent work that protects the reputations of individuals when allegations prove unfounded.

Is the CHRAJ Petition Still Active?

Yes. A separate process before the Commission on Human Rights and Administrative Justice (CHRAJ) remains active. In January 2026, a section of the Abene Traditional Council petitioned CHRAJ to investigate allegations involving conflict of interest, abuse of office, and administrative injustice related to his former position at ADB.

The CHRAJ inquiry focuses on whether his simultaneous responsibilities as a traditional ruler and public-sector bank board chairman resulted in breaches of constitutional and administrative standards. This process is separate from the EOCO investigation and continues independently.

What Does This Mean for Ghana's Business and Traditional Institutions?

For Ghana's evolving landscape of business governance and traditional leadership, this case offers important lessons. It highlights the need for clear separation between public-sector roles and traditional responsibilities, while also demonstrating that allegations must be tested through proper investigative channels.

Daasebre Akuamoah Agyapong II was enstooled as Kwahuhene on June 5, 2017, following the death of Daasebre Akuamoah Boateng II in September 2014. His name was gazetted on September 28, 2017. With the EOCO investigation now concluded in his favour, the focus can shift back to development and progress in the Kwahu Traditional Area.

As Ghana continues to strengthen its institutions and attract investment, the resolution of such disputes through transparent, evidence-based processes sends a positive signal about the country's commitment to the rule of law and good governance.