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IMANI Boss Otabil may have been ‘misled’ in Capital Bank collapse – Franklin Cudjoe

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Pastot Mensa Otabil play

Pastot Mensa Otabil

President and founder of IMANI Africa, Franklin Cudjoe, has argued that Dr. Mensa Otabil may have been misled in events that led to the collapse of Capital Bank.

Pastor Otabil has come under criticism from a section of Ghanaians over his role in the collapse of the bank, owing to his position as the then Board Chairman.

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A detailed investigative report indicates that a GHc 610 million liquidity support offered by the Central bank to help stabilize Capital bank was diverted into other businesses.

Pastor Otabil, together with then CEO of the bank, Ato Essien, have been in the spotlight in recent weeks over their role in the diversion of the funds, as well as the subsequent collapse of the Capital bank.

But speaking on the issue, president of IMANI, Franklin Cudjoe said the preacher may not have been aware of the diversion of funds.

IMANI Boss, Franklin Cudjoe play

IMANI Boss, Franklin Cudjoe


According to Mr. Cudjoe, Pastor Otabil may have been “misled” by his CEO in events that led to the bank’s collapse.

“I am tempted to believe that Pastor Otabil was misled by his CEO.It does seem that the Pastor didn’t quite possess the financial ‘spirit’ and eye to detect that the financial engineering his CEO engaged in was beyond normal limits of risk,” the IMANI boss said.

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“Is there evidence that other board members probably more experienced warned Board Chairman pastor about the varied seeds his CEO was sowing all over the lands that created a hole of Ghc 610m? As I have said, there is no evidence that board chair pastor actively colluded with his CEO to embezzle Ghs 610, so we cannot accuse him of wrong doing.”

Meanwhile, the leadership and membership of the International Central Gospel Church (ICGC) has backed its founder despite the ongoing backslash.

In a statement, the members of the church affirmed their loyalty to the preacher, describing him as a man of “integrity”.

Also, the harshtag #IStandwithOtabil has emerged on social media, as some Christians believe Pastor Otabil is being unnecessarily vilified.

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