The outspoken legislator believes the NPP government’s poor handling of the banking sector crisis has completely damaged the reputation of Pastor Otabil.
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NPP has reduced Otabil from renowned pastor to ‘chop chop’ overseer – Adongo fires
The MP for Bolgatanga Central Constituency, Isaac Adongo, says the ruling New Patriotic Party (NPP) has reduced Pastor Mensa Otabil from a renowned preacher to a man who presided over the mismanagement and subsequent collapse of the Capital Bank.
NPP has reduced Otabil from renowned pastor to ‘chop chop’ overseer – Adongo fires
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Mr. Adongo said this during a presentation at the Takoradi Technical University on Thursday.
“NPP used the financial sector clean-up to turn Pastor Mensa Otabil from a renowned international preacher to a man who presided over a board of directors that ‘chopped’ GHc620 million of central bank liquidity support and mismanaged another GHc837 million that was in the coffers of the now-defunct Capital Bank,” he said.
MP for Bolgatanga Central, Isaac Adongo
Pulse Ghana
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A detailed investigative report indicated that a GHS610 million liquidity support from the Bank of Ghana to help stabilize Capital Bank was diverted into other businesses.
The ICGC founder together with then CEO of the bank, Ato Essien, have since been under scrutiny over their roles in the diversion of the funds.
Mr. Adongo, who is a member of the Finance Committee of Parliament, said the government has been unfair to Ghanaian entrepreneurs who set up banks and other financial institutions.
In his view, the financial sector clean-up could have been done in a better way to avoid the collapse of many indigenous banks.
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