- ICGC has affirmed its loyalty to its head pastor, Dr. Mensa Otabil, amid controversy over the role he may have played in malfeasance that led to the collapse of Capital Bank
- The in a statement stressed that Dr. Otabil’s integrity and transparency over 30 years of service is unparalleled
The leadership and membership of the International Central Gospel Church (ICGC) has backed founder Dr. Mensa Otabil, in light of public criticism over his role in the collapse of Capital Bank.
The preacher has been in the news over the past week over his involvement in the capitulation of the bank, which he chaired.
A detailed report from the Central Bank indicates that Pastor Otabil was in the know about a GHc610 liquidity support which was diverted into other businesses.
Instead of using the money to restore Capital Bank to its knees, the management, with the approval of the International Central Gospel Church founder, diverted the money for other uses, leading to the eventual collapse of the local bank in August 2017.
A member of the Board, Ato Essien, moved the money into companies believed to be owned by him and others, on the Board, whiles the rest was used as capital to secure a license for another now-defunct bank, Sovereign Bank.
Dr. Otabil has since been under criticism from a section of the public, who believe he should have stood against the move, considering the man he is.
Others have also lashed out at the preacher, accusing him of failing to practice the integrity and quality leadership that he preaches.
However, the pastor still has the backing of the leadership and membership of ICGC despite his current troubles.
In a statement, the church said it remains loyal to Dr. Otabil, adding that he is “the embodiment of Christian character”.
“Throughout this period, you have demonstrated integrity at its highest level before us. Many of us have built our Christian character around the values you continue to exhibit. The transparency with which you have led this church continues to motivate us to do same when it comes to matters of integrity. At a time like this, we affirm our loyalty to you and celebrate you as the embodiment of Christian character,” the ICGC leadership said.
Meanwhile,executive director of IMANI Africa, Franklin Cudjoe believes former Board Chair of now-defunct Capital Bank, Mensa Otabil might have been misled by his Chief Executive Officer.
Mr. Cudjoe in a Facebook post, however, said the Pastor could have been ignorant about the risks associated with the deals his CEO, Ato Essien was involved in.
I am tempted to believe that Pastor Otabil was misled by his CEO.It does seem that the Pastor didn’t quite possess the financial ‘spirit’ and eye to detect that the financial engineering his CEO engaged in was beyond normal limits of risk.
Is there evidence that other board members probably more experienced warned Board Chairman pastor about the varied seeds his CEO was sowing all over the lands that created a hole of Ghc 610m? As I have said, there is no evidence that board chair pastor actively colluded with his CEO to embezzle Ghs 610, so we cannot accuse him of wrong doing.
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