The founder of the International Central Gospel Church (ICGC) has broken his silence over the collapse of Capital Bank in which he has a stake.

According to him, people are rejoicing over his misfortune following the revocation of the bank’s license and subsequent takeover by GCB Bank Limited.

“They are happy that somebody is down, because they have been down for so long that when you are down they feel like they have climbed”.

“Sometimes, people you have helped will kick you when you are down, people you have encouraged will kick you when you are down”.

“The reality is, there are people when you are down, they feel up” he told the congregation in a sermon about facing reality which he defined as “when you hear stuff you don’t want to hear”.

“And you say wow, thank you, Lord, for mercy. For giving him grace to insult you because if God had not given them permission they would not insult you”.

Otabil who is CEO and consultant of Otabil and Associates had 3% stake in the bank while ICGC which he founded also had 3% shares.