Former UT and Capital Bank workers plead for support to cope with life

Former UT and Capital Bank workers plead for support to cope with life

Some former staff of collapsed UT and Capital Bank are asking for support be able to cope with the hardship of life without jobs.

According to the group, a lot of the workers are yet to recover from the shock they suffered when the banks they worked for, were taken over by the GCB Bank more than a year ago.

About 1,200 workers of both UT and Capital Bank had their contracts terminated after the BoG withdrew the licenses of the two banks. reports that the former workers are yet to receive their exit pay. The situation is reportedly having an emotional and financial toll on them.

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UT Bank

Dr Mensa Otabil was the former Chairman of the defunct Cpital Bank
Source: Getty Images

Philip Yawson, who spoke on behalf of the ex-workers, said: “Given the current conditions we find ourselves in this country; if you are even working and it’s not easy, and then [imagine] you being in the house.

“It just came out of the blue. One day you go to work and it is just like, go home. Your bank is no more. Your source of livelihood is no more”.

UT Bank and Capital Bank were taken over by GCB, because of the inability of the two banks to turn around their negative capital adequacy position.

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Recently the former chairman of Capital Bank, Dr Mensa Otabil came under massive public attacks over his role in the mismanagement of the bank.

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