Otabil wasn’t qualified to be the Board Chairman of Capital Bank – Experts

Otabil wasn’t qualified to be the Board Chairman of Capital Bank – Experts

Some experts in banking and finance have disclosed that General Overseer of the International Central Gospel Church (ICGC), Mensa Otabil shouldn't hav

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Some experts in banking and finance have disclosed that General Overseer of the International Central Gospel Church (ICGC), Mensa Otabil shouldn’t have accepted the role of a Board Chairman of the then Capital Bank because he wasn’t qualified.

A retired Deputy Governor of the BoG, Mr. Emmanuel Asiedu-Mante, and a private consultant on corporate governance in banking, Dr Richmond Atuahene contended that Otabil lacked expertise in banking and finance to have accepted that role.

Dr. Attuahene cited the Basel Committee Bank Supervision report which states that “that a board chairman must have knowledge, experience, competencies and skills to ensure effective running of the institution in the long term” as his reason.

“As chairman, you are to ensure the long-term survivability of the bank. So if you help in running a bank down, you cannot plead alibi as far as corporate governance is concerned,” he stated.

Mensa Otabil, this week, released a statement on his role in the collapse Capital Bank and he stated that he played a non-executive role in the bank, therefore, he cannot be culpable in its collapse.

“The onus should have been on the BoG to tell him: ‘My brother, you are a good minister of God; you preach the Word very well, but you do not have the expertise, skills, and competencies to be a chairman. Therefore, we cannot approve you’,” Dr Atuahene said

Mr Asiedu-Mante, who chairs the Board of Stanbic Bank Ghana thinks such a sensitive position should be occupied by someone who has worked in the sector.
Capital Bank and UT Bank were liquidated last year by the Bank Of Ghana and were absolved by GCB Bank.