Manhyia Palace has denied reports that Asante Kotoko's Executive Chairman Kwame Kyei has been stopped from financing the club.

Last week, the home of the Asante King announced that the businessman's has submitted a report after the expiration of his three-year tenure.

Subsequently, a three-man committee has been tasked to probe the club's affairs during Kyei's reign.

This led to speculations that the oil magnate has been told to distance himself from the club until the committee finishes its work.

But this has been dispelled by Nana Kwame Mensah Aboagye, the Special Assistant of the Chief of Staff at Manhyia.

''It is not true, Kwame Kyei is still working for Asante Kotoko and funding all activities,'' Nana Mensah told Kumasi-based Light FM.