You were neither careful nor diligent with Capital Bank – Top lawyer 'schools' Mensa Otabil

You were neither careful nor diligent with Capital Bank – Top lawyer 'schools' Mensa Otabil

A renowned US-based Ghanaian lawyer, Professor Kwaku Asare, better known as Kwaku Azar, has taken Pastor Mensa Otabil to the cleaners, with respect to the latter's released statement about the defunct Capital Bank.

The man of God, who is the General Overseer of the International Central Gospel Church (ICGC), reportedly released a statement in which he sought to defend himself with respect to his role as a non-executive director of the then Capital Bank.

In the statement, he described the circumstances under which he accepted to be the Board Chairman of the Capital Bank, as well as his efforts to ensure that the bank achieved success.

A man wearing a coat

Professor Stephen Kwaku Asare Source: Supplied

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He went on to add that he had been deeply concerned about those who lost their jobs when the Capital Bank was taken over by the GCB Bank.

According to him, he is cooperating with the relevant state agencies to ensure that everything is settled.

This however did not go down well with the law professor who argued that even as a non-executive director, Pastor Otabil was expected to exercise care and diligence in his work.

He added that a violation of the Banking Act and Regulations was enough grounds to establish the culpability of an official of the bank.

Professor Asare concluded by stating that dereliction of duty on the part of a non-executive director is a serious offence, especially in a situation where deposits by customers of the bank are diverted elsewhere.

A cross-section of Ghanaians expressed support for Professor Asare’s position, as they added their voice to the matter:

In the year 2017, the Central Bank ordered the collapse of the Capital Bank and the UT Bank. The assets and liabilities of both banks were assumed by GCB Bank.

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Source: Yen.com.gh

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