Pulse.com.gh logo
Go


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

  • Published:
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.

READ ALSO:  Banks Collapse: Here is what BoG’s GHC1.4bn to UT and Capital Banks can do for Ghana

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.

READ ALSO:  Collapsed Bank: It’s ‘incorrect’ to implicate me in Capital Bank collapse – Ato Essien

“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.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos




Top Articles

1 Breaking Otabil finally breaks silence on banking controversiesbullet
2 Capital Bank Collapse Here are the roles of a non-executive board chairbullet
3 Bank Collapse Capital Bank Board misused GHC 610 million from BoG –...bullet
4 Banks Collapse Accounts of defunct Royal Bank managers frozenbullet
5 Investment banks in Ghana Top 5 investment banks in Ghana and...bullet
6 IMANI Boss Otabil may have been ‘misled’ in Capital Bank...bullet
7 Collapse Bank Here’s what former staffs of Capital Bank are...bullet
8 IMANI Boss Attacking Otabil over Capital Bank collapse...bullet
9 Banking Issues "Collapsed banks didn't fail; they were...bullet
10 Nana Appiah Mensah Menzgold boss apologises to BoG...bullet

Top Videos

1 Former Capital Bank staff grills pork for survivalbullet
2 New Discovery Ghana discovers new mineral, lithium in commercial...bullet
3 Forbes 2018 Africa's billionaires rich listbullet
4 Money Alert Meet Africa's richest womanbullet
5 Support Finance minister buys Kantanka carbullet
6 Plane Crash Starbow suspends operations following plane crashbullet
7 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
8 Tech 6 reasons you should buy an iPhone SE instead of any...bullet
9 New Phones Nokia MWC 2018 Event in 5 minutesbullet
10 New Phone Nokia’s MWC 2018 Event in Under 10 Minutesbullet

Business