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06.01.2006 Business & Finance

ADB denies allegation about Akuafo cheques


Enchi (W/R), Jan 06, GNA - Mr Cephas Sowa, the Enchi Branch Manager of the Agriculture Development Bank (ADB), has denied allegations by some cocoa farmers in the area that the bank was refusing to honour their Akuafo cheques.

Speaking to the GNA at Enchi, he said the bank honours Akuafo cheques of cocoa farmers when Licensed Cocoa Buying Companies (LCBC) deposited funds at the bank for the cheques.

Mr Sowa said, "The ADB does not deliberately withhold payment of money of cocoa farmers or put stumbling blocks in the way of LCBC and farmers".

He advised management of LCBCs not to issue Akuafo cheques to farmers when they have not enough funds at the bank to avoid frustrating the farmers.

Mr Sowa said the ADB was doing its best to reduce difficulties cocoa farmers face in cashing their Akuafo cheques. 06 Jan 06