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IMANI Boss Attacking Otabil over Capital Bank collapse "offensive"-Franklin Cudjoe

Pastor Otabil has come under criticism from some Ghanaian social media users over his role in the collapse of Capital Bank owing to his position as the board chairman of the bank.

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President and founder of IMANI Africa, Franklin Cudjoe is defending Pastor Mensah Otabil over his role in the collapse of Capital Bank.

Pastor Otabil has come under criticism from some Ghanaian social media users over his role in the collapse of Capital Bank owing to his position as the board chairman of the bank.

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According to Mr Cudjoe, the attack on the founder of the  International Central Gospel Church (ICGC) is "offensive" because he has not been charged with any crime.

"It is quite offensive to call out a man guilty when he has not been charged with any crime. Please stop attacking Pastor Otabil. Hopefully, the pastor will solve his issues soon," he said.

 

The central bank collapsed the bank in August 2017 over liquidity challenges.

Pastor Otabil stands accused of supervising the mismanagement of GHC610 relief package to Capital Bank from the Bank of Ghana.

According to the BoG report, the bank's board, chaired by Pastor Otabil, doled out ¢27.5m to a board member for "business promotion.

The board also approved an expenditure of ¢2.6M and $50,000 on “re-branding.”

The board, the report said, also “ratified” a proposal to increase the fees and benefits of directors, including two first and business class air tickets for all members of the board.

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

In addition, an amount of 130m was transferred to Alltime Capital by CEO of the Bank Ato Essien and the money was to be paid back in five months with assurance from the chairman, Mensah Otabil.

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