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General News of Monday, 21 August 2017


Otabil recounts tortuous experience with collapse of Capital Bank

Pastor Mensah Otabil play videoPastor Mensah Otabil

Ghana's banking sector was shaken to its core when the Bank of Ghana directed for two struggling banks - UT bank and Capital Bank - to be taken over by GCB bank.

According to the Bank of Ghana, these troubled banks were asked to sacrifice their management due to what the bank of Ghana described as the severe impairment of their capital.

This means that the collapsed banks will have to lose their management to that of the GCB bank - a development which struck fear and panic among many customers.

But in what seems to be an emotional sermon titled "Peace", Pastor Otabil expressed how troubled he was in the wake of the doom that befell Capital Bank.

"It's been quiet an eventful week and interesting things have happened. It's been an interesting week with all kinds of stuff happening all over. Monday was a moderately good day for me, Tuesday was a very bad day and Wednesday was a terrible day for me. This Tuesday, I was not in the frame on mind for a sermon, neither on Wednesday but on Thursday I felt a cloud had left me." he revealed.

Until recently, Dr. Otabil headed the leadership of Capital Bank as the board chairman of the bank - a development which many have mistaken to mean he actually owns the bank.

Meanwhile, President Nana Addo Danquah Akufo-Addo has directed the Central Bank to weed out all struggling banks in Ghana so as to ensure the safety of Ghana's banking sector.

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