The demolished bank building
SEKYEDUMASE RURAL BANK has described the demolition of its 33-year-old branch at Aboabo in the Asokore Mampong Municipality as unlawful, with its Chief Executive Officer (CEO), Michael Padmore, and legal counsel, Dr. Dickson Osei, condemning the exercise and assuring customers that no money or customer data has been lost.
The bank said the demolition, which was carried out to make way for a proposed 24-hour economy market project, was undertaken without an eviction notice while a legal dispute between it and the Asokore Mampong Municipal Assembly was pending before the court.
Dr. Osei, the bank’s legal counsel, disclosed that the bank had secured an ex-parte interlocutory injunction in June 2026 restraining the Municipal Assembly and its private contractor from interfering with the property.
He said the demolition, despite the pending court proceedings, amounted to illegal trespass and a disregard for the judicial process.
The case is expected to resume on October 12, 2026, when the court reconvenes after the legal vacation to hear two applications pending before it.
No Eviction Notice
Mr. Padmore insisted that the bank was never served with an official eviction notice before the demolition.
He said management had been engaging the Municipal Assembly for about five months to resolve outstanding structural and urban planning issues relating to the proposed redevelopment.
33-Year Ownership
Dr. Osei rejected claims that the demolished facility belonged to the Assembly or the community, explaining that the local community had officially gifted the land to the bank more than 33 years ago.
He said the bank subsequently constructed the facility with its own resources to provide banking services to residents.
According to him, the bank demonstrated good faith when the Assembly began discussions over the proposed 24-hour economy market project.
He said the bank offered two options—either for the existing branch to be incorporated into the proposed project or for the Assembly to grant the bank adequate time to relocate.
Bank Loses Physical Assets
While the exact value of the assets destroyed is yet to be determined, Mr. Padmore confirmed that the demolition resulted in the destruction of the branch building and physical assets worth millions of Ghana cedis.
He said the bank had a comprehensive inventory of the assets in the building and was currently conducting a valuation to establish the exact cost of the loss.
Court Battle Continues
Dr. Osei said the bank’s injunction application was granted ex-parte in June and notice was subsequently served on the Assembly.
He said the Assembly did not file an affidavit in opposition to the bank’s application but instead filed a separate application, to which the bank had responded with an affidavit in opposition.
Business Continues
Despite the demolition, management has activated its Business Continuity Plan (BCP) to ensure that banking services to customers in Aboabo and surrounding communities continue.
Staff of the demolished branch have been temporarily reassigned to neighbouring branches, while loan repayments and other banking transactions are expected to proceed without disruption.
Mr. Padmore said the bank was also working with the Bank of Ghana and ARB Apex Bank to secure regulatory approval for a temporary operating space within the Aboabo community.
FROM David Afum Kumasi