"God is good"- Pastor Otabil explains Capital Bank collapse

He has been the focus of intense media scrutiny after a Bank of Ghana report indicted the board of the defunct bank of which he was the board chairman.

"I felt that as your pastor, I owe you an explanation," Pastor Mensah Otabil has told his congregation Sunday over his role in the collapse of Capital Bank.

The report in summary, indicted the board of misappropriating funds the Bank of Ghana advanced to the bank to make it solvent following liquidity challenges.

Pastor Otabil had earlier in a statement absolved himself of blame in the collapse of Capital Bank, explaining that his role was "non-executive" and that he was not involved in the day to day running of the bank.

"My position was a non-executive role. I was therefore not involved in the day-to-day management and operations of the Bank," he said in a statement.

But many financial analysts have said he should take some responsibility for the collapse of the bank, despite his  "non executive role" because he was the board chairman. Some have also said he is not demonstrating leadership by his posture.

"This morning I came to make a response. There are three statements I want to give which I expect your to carry along to explain what has happened," he told his church members.

"God is good," he said to loud applause and cheers.

"My second statement is that God is good," the congregation responded "Amen!

"And my third statement is that God is good," he said, sending the church into a frenzy. "I came this morning to declare the goodness of the lord."

"We serve a good God, we serve a wonderful God. We serve a faithful good."

He told his church members if anyone has a question regarding his role in the collapse of Capital Bank, "just tell them God is good."

The license of Capital Bank and UT Bank were withdrawn in 2017 by the central bank.

Five more local banks have had their license revoked by the central owing to liquidity challenges and fraud in acquiring the license.


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