The General Overseer of the International Central Gospel Church (ICGC), Pastor Mensa Otabil says the full truth surrounding the collapse of Capital Bank will come out at the hearing of the legal suit filed against him and some others by the receivers.

The man of God during a church service on Tuesday said the suit does not make him guilty. Pastor Otabil, has been sued together with 14 other shareholders and directors including his ICGC church by the receivers of the Bank.

But reacting to the issue, he said, “When someone sues you, it is not an evidence, neither is it judgment, It is just somebody’s opinion,” he said. “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 added. Pastor Mensa Otabil urged the congregants to closely follow the legal proceedings, indicating 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.”

Pastor Otabil was the Board Chairman of the defunct bank, while the ICGC was named as a shareholder of the bank in the suit. The suit was filed at the Commercial Division of the Accra High Court by the receivers of the defunct bank, Mr Vish Ashiagbor and Mr Eric Nipah.

The plaintiffs are seeking to use the legal action to recover over GH?837 million being what they said were loans granted to the shareholders which remains unpaid.



Defendants The other shareholders and directors joined to the suit as defendants include Mr William Ato Essien, former Chief Executive Officer of the bank, Oheneba Osei-Akoto, Stephen Enchill, Kingsley Atta Ghansah, Otabil & Associates, Kwadwo Ayisi-Ahwireng, Isaac Osah Thompson-Mensah and John Kofi Mensah. The rest are Edwin Obeng Donkor, Fitzgerald Odonkor, Amadu Montia, Kofi Kwakwa and Francis Adu Mante.

The suit outlined the role of each defendant and confirmed a financial autopsy report that said the failed bank’s founder William Ato Essien used depositors funds as his ‘personal piggy bank’.