Why Is Professor Peter Quartey Lobbying to Return to ADB’s Board?

Professor Peter Quartey, a well-known economist and former Board Member of the Agricultural Development Bank (ADB), is once again seeking a seat at the table — and his renewed interest is raising serious questions.

Credible information reaching The Overseer Online suggests that Prof. Quartey has been actively lobbying influential individuals in government to secure a reappointment to the ADB Board. According to sources, he has made several calls to persons close to the Presidency, pushing to be considered for a role on the new board.

But his efforts have stirred controversy, especially given the unresolved concerns surrounding his previous tenure on the ADB Board during President Akufo-Addo’s administration.

During that time, the ADB Board came under fire for approving a series of questionable loans — including one that reportedly benefited the then Board Chairman, a traditional ruler. Prof. Quartey was part of the Board that signed off on those deals, and although he was not personally accused of wrongdoing, critics say his silence and continued ambition raise troubling questions about accountability and intent.

What deepens public concern is the fact that the previous government — not the current one — formally wrote to the ADB Board Chairman demanding answers on allegations of extortion and abuse of office. The complaint, filed by a businessman, accused the Board Chair of using his influence to help secure a loan from ADB in exchange for a GH¢50,000 facilitation fee and a GH¢2 million “cut” from the approved funds. The money was allegedly transferred directly to the Board Chairman through an intermediary.

Although this happened during Prof. Quartey’s time on the Board, there has been no public explanation from him or other members regarding what internal checks — if any — failed during the approval process. With such serious governance lapses still unresolved, Prof. Quartey’s attempt to return has left many asking: What exactly is his interest at ADB? Why come back now?

One insider at the financial institution put it bluntly: “The question is not just whether he should return. The question is whether he ever should have been there in the first place — knowing what we now know.”

Supporters of Prof. Quartey might argue that his economic expertise and experience are valuable to an institution like ADB. But critics counter that in a time when public trust in state-owned banks is already under strain, reappointing anyone associated with past controversies risks further eroding confidence.

Instead, many are calling for a fresh start — new leadership, tighter oversight, and a commitment to transparency. And that, they say, means moving forward without the baggage of the past.