Hoist red flags to protest happenings at ADB – UNICOF

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The Union of Industry, Commerce and Finance Workers (UNICOF) has directed its members to as a matter of urgency hoist red flags in protest against ongoing happenings at ADB.

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The union is also demanding the dismissal of the Managing Director, Stephen Kpodzi who has been accused of running down the bank.

The agitation follows plans by management of the bank to list on the Ghana Stock Exchange as well as plans to sell off its headquarters at an alleged cost of $10 million.

Addressing a press conference, Monday, the General Secretary of UNICOF, John Esiape said they are alarmed by the posture of the ADB boss.

He said UNICOF is not against the bank?s intention to list on the GSE, but rather against the ?indecent haste by the board and the MD? to get on the stock market.

According to UNICOF, it is an attempt to ?cover up the massive rot and corruption.? Esiape added: ?We are requesting that the MD who has 195 accumulated leave days proceeds on leave.?

Last week, Kpodzi told the media that the headquarters of the bank has not been sold contrary to media reports that management has sold it.

According to him, the bank had to relocate its headquarters at ADB house off the Independence Avenue in Accra due to lack of space. He said they needed a ?bigger place? to see to the daily operations of the bank hence the need to search for a new place.

He said ADB has paid Gh?5.6 m in six months as rent at the Accra Financial Centre. Breaking down the amount, Kpordzi said the bank pays $37 per square metre at the new office and that comprises the furnishings and the space.

He pointed out that the land belongs to ADB but had to give it to a private investor to develop it. Per the agreement with the private investor, ADB as shareholders own 10% stake in the building although they are tenants.

Source: starrfmonline.com

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