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Capital Bank Collapse #IstandwithOtabil: Supporters of Otabil declare loyalty

The founder of the International Central Gospel Church has been bashed because he was the board chairman of the now defunct bank.

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Mensa Otabil play

Mensa Otabil

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Following days of swelling criticism against Pastor Mensah Otabil over his role in the collapse of Capital Bank, his followers are now rallying behind him on social media.

The founder of the International Central Gospel Church has been bashed because he was the board chairman of the now defunct bank.

READ MORE: The people living in Accra are dirty – Pastor Mensa Otabil

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.

Using the hashtag #Istandwithotabil, his followers are sending words of sympathy and  solidarity, declaring him as a man of integrity.

Below are some of the tweets.






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