The Otabil/Capital Bank Issue simplified

In 2015, Capital Bank had depleted it Capital to the point where they could no longer meet the request of depositors. As a relieve to keep the Bank afloat, BoG gave them a bailout worth 610 Million New Ghana Cedis

When the Board of the Bank met to decide how to use the money, they gave 27 million to a Member to Promote the Business, 2.5 Million was dished out for rebranding. Fees and benefits of directors were increased at the same meeting. Two first and business class air ticket was given to each member at the same meeting from the BoG money.

Then 130 million was given to another company that fronted for two other companies. When the 130 million was traced, it was found to have walked its way back to BoG to give birth to Sovereign Bank.

Do you get this: Part of the Tax Payer’s money, given to Capital Bank to work its way back to normalcy was rather diverted to start a new Bank altogether.

12 months after Capital Bank received 610 million from BoG, it collapsed. This was at a time when the threshold for operating a Bank was 120 million. 19 months later, Sovereign Bank is no more. Now, the bailout given to Capital Bank was a loan from BoG, TAX Payer’s money: who pays it?

My Take

Before you stand with Dr Mensah Otabil against the Nation as if he is a Christian Martyr, understand the issues. He was the Board Chairman of Capital Bank and none of those decision could have been reached without him. If that happened though, he should come out to prove his innocence.

This is purely a dupe of the state and as young people who lament the limited opportunities in this country, we must not be blinded by loyalty to oppose the nation God placed us in by standing on the side of its wreckers.

You only understand ‘touch not my anointed’ when your Pastor is involved. Obinim de3 nebo dwe.

You see how similar you are to members of Obinim’s church? You are a human worshipper. The same mentality runs through y’all.

I’m not against Dr Mensah Otabil, he is a great guy and one of the few preachers even unbelievers listen to. I know a Muslim who can’t afford to go a day without listening to him. I pray he is innocent but I side with Ghana through it all.

You can stand with him, but first understand the issue and don’t treat it as persecution. This government gave Capital Bank the best deal ever. Before the takeover by Ghana Commercial Bank, that is after they had squandered 610 mill, ideally, all of Otabil, Prince Amoabeng and cohorts’ assets should have been confiscated to cover the cost of their respective losses which were largely down to unethical banking practices. They were made to go because you know, in Ghana, your relationship with the ruling government is a key to many doors.

This is just a new revelation after investigations into Sovereign Bank’s spectacular ‘liquidlessness’ in just a year.

I’d rather pray for Otabil than to join a useless public campaign that further subjects Christianity to needless ridicule in such turbulent times. Christians do make mistakes, when we do, God wants us dealt with in accordance with the laws of the state. Read Romans 13:1-6.

Otabil too is human, he can make mistakes. When he does, God placed him in a nation so that he doesn’t become an island, the laws of the nations should apply to him.

It wouldn’t kill his ministry if he proves his innocence or even if he comes out to say ‘I erred, I’m sorry and goes further to pay his part of the money.

ICGC won’t collapse because of this unless you the same members at war with the state decide to quit. In fact, he will even win more people for being proven innocent or having the humility to concede. But to you, your Pastor is perfect, sinless and never capable of making a mistake. This is the mentality that has made many men of God the god of men.

Individualism will kill you people. Some of you on the #Istandwithotabil derailed train haven’t even prayed for him: shame on you.

Jesus didn’t die for this.

By Isaac Kyei Andoh