A group calling itself Forum for Protection of Public Funds has rendered an unqualified apology to Effutu Alexander Afenyo-Markin for making disparaging comments against him in the media in connection with allegations that he extorted bribe from the Agricultural Development Bank (ADB) so he would not carry out a threat of seeking interlocutory injunction on its Initial Public Offer (IPO).

The group’s apology follows the denial by ADB that Mr Afenyo-Markin exacted $900,000 from them in connection with the lawsuit threat.

In a letter responding to queries by the forum over the bribe allegation, ADB said: “We wish to observe that the contents are not only disturbing and shocking but appears to be a professionally tabulated pack of half-truths completely in synch with outright lies.

“More shocking is the information on the payment of $400,000 into the account of Mr Alexander Afenyo-Markin in South Africa, and a further $500,000 into a sister’s account in the United States.

“There is also a cedi component of GHS25,000 allegedly paid to Honourable Afenyo-Markin in an act of extortion.

“Spurious as these allegations are, we cannot accept the fact that the bank will misapply public funds in this reckless manner. A total of $900,000 being paid to one single person because there was a threat of court action against the bank’s IPO? These are calculated distracting acts intended to derail the IPO, which has already seen enough upset”, ADB denied.

Convener of the Forum for Protection of Public Funds, Godfred Dotse told Citi FM’s Richard Sky on Eyewitness News on Monday March 21 that their apology has been necessitated by the bank’s denial of the allegation.