The long-running controversy surrounding Daasebre Akuamoah Agyapong II, the Kwahuhene and former Board Chairman of Agricultural Development Bank PLC (ADB), has taken a significant turn following the conclusion of an investigation by the Economic and Organised Crime Office (EOCO), which, according to the account provided, found no adverse findings against the traditional ruler.
The development has also led the Financial Intelligence Centre (FIC) to lift a restriction previously placed on the chief’s accounts, restoring his access to the funds and bringing a major chapter of the financial allegations against him to a close.
Daasebre Akuamoah Agyapong II, known in private life as Eugene Asante Boadi, served as Board Chairman of the state-owned Agricultural Development Bank from 2021 until mid-2024.
His tenure at the bank later became entangled in allegations of financial impropriety, allegations that subsequently spilled over into the Kwahu chieftaincy dispute and contributed to a bitter contest over his position as Kwahumanhene.
The latest development is significant because the financial allegations had become one of the major issues his opponents cited in challenging his continued occupation of the Kwahu paramount stool.
How The ADB Controversy Began
The controversy surrounding the former ADB Board Chairman emerged from allegations made by a businessman who accused the traditional ruler of demanding personal financial benefits in connection with a GH¢12 million commercial loan.
The allegations generated considerable public attention and eventually attracted the attention of the Bank of Ghana, which intervened during the period when Daasebre Akuamoah Agyapong II was serving as Board Chairman.
Following the controversy, the Bank of Ghana directed him to resign as a director and Board Chairman of ADB. He subsequently left the position.
The allegations, however, did not end with his departure from the bank. They became intertwined with the increasingly bitter disagreement over his status as Kwahuhene, with some members of the Abene Traditional Council and other traditional actors questioning his conduct and arguing that the controversy had brought disrepute to the Kwahu stool.
The dispute subsequently moved beyond the boardroom of ADB and into the traditional and judicial structures responsible for chieftaincy matters.
Some kingmakers purportedly sought to destool Daasebre Akuamoah Agyapong II, while he and his supporters challenged the validity of the process, maintaining that his removal had not followed the required customary and legal procedures.
The disagreement eventually produced rival claims over the Kwahu paramount stool, with Baffour Akoto Osei being presented by one faction under the stool name Daasebre Akuamoah Boateng III.
The resulting dispute triggered a series of legal battles before the Eastern Regional House of Chiefs and the courts.
Daasebre Akuamoah Agyapong II was originally nominated, selected and enstooled as Kwahuhene on June 5, 2017, following the death of Daasebre Akuamoah Boateng II in September 2014. His name was subsequently entered into the National Register of Chiefs and gazetted on September 28, 2017.
The dispute over his status intensified in late 2024 and early 2025, eventually leading to rival claims over the Abene Palace and the authority of the Kwahu Traditional Council.
House of Chiefs Intervenes
The Judicial Committee of the Eastern Regional House of Chiefs subsequently became central to the dispute.
On June 24, 2025, the Committee granted an interlocutory injunction restraining Baffour Akoto Osei and other respondents from interfering with Daasebre Akuamoah Agyapong II’s functions as Omanhene of Kwahu. The order also restrained the respondents from recognising or presenting Baffour Akoto Osei as Kwahuhene or allowing him to perform functions at the Abene Palace.
The ruling later became the basis for a police operation that restored Daasebre Akuamoah Agyapong II to the Abene Palace on November 17, 2025.
The enforcement operation itself generated another controversy after reports emerged concerning the arrest of the Kwahu Paramount Queen Mother, Nana Adwoa Gyamfua III, and Baffour Akoto Osei.
The Kwahu Traditional Council subsequently disputed reports that the Queen Mother had been abducted, saying the police intervention was connected to enforcement of the House of Chiefs’ injunction.
Following his return to the palace, Daasebre Akuamoah Agyapong II resumed his traditional duties and pledged to promote unity, peace and development in the Kwahu Traditional Area.
CHRAJ Petition Keeps Controversy Alive
Despite the subsequent legal developments concerning the stool, the financial controversy has continued to attract attention through a separate process before the Commission on Human Rights and Administrative Justice (CHRAJ).
In January 2026, a section of the Abene Traditional Council petitioned CHRAJ to investigate allegations involving Daasebre Akuamoah Agyapong II in connection with his former position at ADB.
The petition was filed by the Abene Krontihene, Nana Simpe Owiredu III, and the Akyeamehene, Nana Asiedu Kwabeng IV.
According to the petition reported by the Daily Graphic, the allegations included conflict of interest, abuse of office and administrative injustice in relation to a private businessman.
The CHRAJ process is separate from the EOCO investigation described in the latest development. The Commission’s inquiry is focused on whether his simultaneous responsibilities as a traditional ruler and public-sector bank board chairman resulted in breaches of constitutional and administrative standards.
EOCO Outcome Brings New Dimension
It is against this background that the reported conclusion of the EOCO investigation assumes importance.
According to the information provided, EOCO has concluded its investigation into the allegations concerning Daasebre Akuamoah Agyapong II and found the allegations to be baseless.
