"Full truth will come out soon"-Otabil

By Wendy Amarteifio
Capital_ Bank collapse: Full truth will come out – Otabil
"Full truth will come out soon"-Otabil

The Head Pastor of the International Central Gospel Church(ICGC), and former Board Chairman of now-defunct Capital Bank, Pastor Mensa Otabil, has told his congregation that the full truth in the controversy about the bank’s collapse will be known soon.

He made the comment on Tuesday evening during a service at his church.


Mensa Otabil has been sued together with 15 other shareholders and directors including his ICGC church by the receivers of the Bank.

But he told his congregation that the suit in no way suggests that he is guilty.

“When someone sues you, it is not an evidence, neither is it judgment, it is just somebody’s opinion,” he said.

He said while he cannot explain details of the matter to the congregation, he will allow the due judicial processes to continue and is hopeful that “the full truth will be known.”

“I know people have all kinds of questions and so on, first of all I can’t explain anything to you. I can’t because I’m in court. We will allow the process to continue and hopefully, the full truth will be known,” he said.

In the suit brought against him by Vish Ashiagbor and Eric Nana Nipah of PricewaterhouseCoopers, the receivers said within seven years, the directors of the defunct bank including Otabil, approved loans and placement of funds to themselves and related parties “without the requisite collaterals and in clear breach of the company’s internal policies and relevant banking regulations and Ghanaian company law.”

READ MORE:Otabil, ICGC and 13 others sued over Capital Bank's fall

Pastor Mensa Otabil urged the congregants to closely follow the legal proceedings, pointing out that it will be “interesting”.

“There is space for people’s opinion but when you go to court, you are not just dealing with people’s opinion. You deal with facts so it’s going to be interesting…. there will be defense and other things so follow closely how things will proceed.”

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