Did Dr. Otabil Indeed Play No Role In the Collapse of Capital Bank?

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Almost two weeks since the bank of Ghana seized control of some 5 privately owned banks over issues of bankruptcy and mismanagement, head pastor of the International Central Gospel Church (ICGC), who doubled as Board Chairman of one of the banks (Capital Bank), Dr. Mensa Otabil has broken his silence on the issue.

Dr. Mensa Otabil, founder of International Central Gospel Church
Dr. Mensa Otabil, founder of International Central Gospel Church

In the last couple of days, Dr. Mensa Otabil has been heavily criticized for his role in the collapse of Capital Bank with many arguing that as the Board Chairman of the bank, he ought to take responsibility for the Bank’s fall.


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Just as had been anticipated, the popular preacher yesterday, 13th August 2018 released a press statement to clarify a couple of issues regarding the collapse of Capital Bank and his role as Board Chairman of the now liquidated bank.

In the release, Dr. Otabil addressed a lot issues but the most eye catching and important one was the fact that he argued that he was not directly involved in the day-to-day management of the bank.

What are the facts?

While we all know Dr. Mensa Otabil as a man of high integrity and standard, it’s quite difficult to buy into his statement that as Board Chairman he was quite powerless in the dealings of the bank as his statement sought to assert.


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In fact, it may be true that Dr. Mensa Otabil was not involved in the day-to-day activities of the bank as Board Chairman, however it is very strange to think that he had no influence or knowledge of the activities of the bank. If he did, what did he do in his capacity as board chairman to address those issues?

And as a matter of fact, the bank did not collapse as results of day to day management, but rather poor decisions taken at the top management level such as Board meetings.

So is Dr. Mensa Otabil implying that as Board chairman together with his board, they were not responsible for taking top decisions concerning the bank, what then was the role of the entire board of the bank?



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And if the Board indeed sat to take top decisions, was he never present at those meetings as Board Chairman?

His press release raises eyebrows and looks like a subtle attempt to exonerate himself for something that he was an integral part of. For now, we may need more clarity on his role as Board Chairman and what exactly his role entailed .


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