…Otabil, ICGC, Ken Ofori-Atta Stand Accused Of Banks’ Collapse
As the sudden collapse of two indigenous banks – Capital and UT – trends, widespread trolling of Pastor Mensah Otabil, Chairman of the Board of Capital Bank, who is known to have used the pulpit to decry mediocrity in leadership, may be the public’s fall for clever subterfuge.
A careful read between the lines, hints up that the supposed failure of Pastor Otabil at Capital Bank may just be a decoy that has been dangled before the public eye by a ‘mafia,’ acting together with him, to divert attention away from hostile takeovers.
Emerging files are assembling into a wicked picture, indicating that the handing out of UT Bank and Capital Bank to the Ghana Commercial Bank was carefully worked out by the Finance Minister, Ken Ofori-Atta.
As GCB is a publicly traded company listed on the Ghana Stock Exchange, it is dawning that there are shrewd stakeholders of GCB, apart from government, who stand to benefit from the takeover of the two banks.
However, in the thick of the dramatic takeover of Capital and UT, the fingerprints of Pastor Otabil and his church, ICGC, are ubiquitously smudged all over, even as the Bank of Ghana and the Finance Minister cameo up as puppeteers.
For one thing, Mr. Bernard Otabil, son of Pastor Mensah Otabil, is the Director of Communications at the BoG. The young Otabil, whose directorate was created for him at the BoG only as recently as the 1st of August, was the one who busily explained away the BoG’s decision to take over the two banks to the media.
At the same BoG, where Pastor Otabil’s son is Director of Communications, the Board of Directors includes a lady called Mrs. Comfort Ocran. Mrs. Ocran is famous for two main things – her involvement in Legacy and Legacy, a human resource consultancy, and her marriage to Albert Ocran, a popular motivational speaker.
Mr. Albert Ocran is the Chief Executive Officer of Pastor Mensah Otabil’s ICGC.
And so, at the BoG, which is under the Minister of Finance, Ken Ofori-Atta, Pastor Mensah Otabil has both his son and his business partner’s wife in their employ.
It was the BoG which announced the takeover of UT Bank and Capital Bank by GCB on Monday, this week, immediately after which agents of the GCB had stormed the head offices of the two banks and started possession of assets.
At the Airport branch of UT, for instance, staffs that had turned up for work were refused entry into the building by policemen who had been deployed by an arrogant GCB staff member called Farouk.
This Farouk, who had arrogantly told the staff to their faces that what was happening to UT was a hostile takeover by GCB, also marched IT staff of the bank to seize computer data.
Sources say Farouk had stood lording over the UT Bank IT staff as they downloaded data for him.
Similar siege had happened at Capital Bank, where immediately after the announcement, GCB had commissioned people to take down the logos and names of Capital and replace them with GCB’s name and logos.
It is now public knowledge that while Pastor Mensah Otabil was Chairman of the Board of Capital, he had opened church accounts at the bank and directed that extortionate offerings from ICGC’s Greater Works conferences be paid into that account.
In the wake of the sudden collapse of Capital, information has emerged that a university owned by the ICGC, Central University College, was heavily indebted to the Capital Bank. The Republic cannot independently verify this.
What can be verified however is that all the suspected people involved in the mafia game to collapse Capital Bank for the GCB to acquire it have been scheduled to give motivational speeches at the Labadi Beach Hotel in Accra tomorrow, Thursday.
At a Legacy and Legacy conference, dubbed “Ideas Festival” scheduled for the Labadi Beach Hotel on the 17th of August, the speakers include Pastor Mensah Otabil, Finance Minister Ken Ofori-Atta, Albert Ocran, Comfort Ocran and a known lawyer of the ruling NPP, Ace Ankomah.
Another curious speaker billed for the program is Rev. Fitzgerald Odonkor, who was the MD of Capital Bank at the time of its collapse.
Rev. Odonkor is billed to lecture on a an executive coaching topic scheduled for the morning session, dubbed “Grooming The Next CEOs,” along with Ace Ankomah and 10 others at the 2017 “Ideas Festival” under the broader topic, “Succession Planning.”
Interestingly, Pastor Otabil is billed to lecture in an evening session topic titled, “Building Trans-generational Entities” and he is to do so along with Finance Minister, Ken Ofori-Atta and the hosts, Albert and Comfort Ocran.
Per the scheduling, Pastor Mensah Otabil, owner of the ICGC and deposed Chairman of Capital Bank, is to share a platform with Finance Minister Ken Ofori-Atta, who used the BoG to collapse the bank that Otabil used to chair.
And on that same platform will be Comfort Ocran, a Board member of the BoG, which instigated the takeover of Capital Bank; and the whole platform is provided by Comfort Ocran’s husband, Albert Ocran, who is the CEO of Pastor Otabil’s ICGC.
Legacy and Legacy’s 2017 version of “Festival of Ideas” effectively seems to provide a platform for the mafia group involved with the collapse of Capital Bank, a bank that was built through the toil and sweat of a hardworking man called William Ato Essien, who had built it from a ‘susu’ collection dealership into a bank.
As Pastor Otabil and his ICGC’s fingerprints appear all over the collapse of Capital Bank, suspicion is emerging that the man who is ubiquitously connected to the people who had announced the takeover of the bank used his position as Board Chairman to intentionally collapse the bank.
As Pastor Otabil’s son busily justifies the BoG’s announcement of the end of Capital, Chairman Otabil, and CEO Rev. Fitzgerald Odonkor have already moved on sharing a lectureship platform with the Finance Minister, who collapsed the bank.
And the whole platform is provided by the husband of a Board Member of the BoG, who is also CEO for Pastor Otabil’s church.
Meanwhile, the UT angle of the hostile takeover is also spawning suspicion. How Prince Kofi Amoabeng, a semi atheist, who a few years ago was said to be worth $270million in personal wealth, could suddenly lose a bank that he had built from his sweat and toil has left wonderment in the air.
However, the development has also inspired throwbacks to times past when a former Deputy Managing Director is said to have self-dealt at the bank.
Pearl Essua Mensah is said to have sometimes ago used her position as Deputy MD of UT to grant a loan to a company that turned out later to belong to her. She is said to have resigned from UT over the incident.
As the two indigenous banks are taken over by GCB amidst suspicion that Pastor Otabil back-stabbed his own partners at the bank to enable the Finance Minister and the NPP government to take over the bank, it is worth noting that GCB has been publicly listed.
What this means is that, even though the Social Security and National Insurance Trust (SSNIT) and the Government of Ghana, together, own majority share of 51%, GCB also has private shareholders who stand to benefit from these hostile takeover of UT Bank and Capital Bank.
Source: therepublicnewsonline.com/Fiifi Samuels