General News Fri, 17 Aug 2018

GHC5m was proceeds from property sale not loan – Kofi Amoabeng clarifies

The former Chief Executive Officer of the defunct UT Bank is denying media reports that he took a ¢5 million loan without informing the bank’s board.

In a statement released on Thursday evening, the first since the bank he retired from collapsed in 2017, Prince Kofi Amoabeng said the ¢5 million was money he had made from the sale of his property.

He explained that the said amount was from the sale of his residence at Roman Ridge in Accra.

The property, he said, was sold to one of the bank’s client’s Kofi Jobs Gyebi after it was put up for sale.

“Mr. Gyebi, after paying off in full his commitment to the Bank, expressed interest in purchasing my personal residence at Roman Ridge in Accra, which I had put up for sale.

“Due to UT Bank’s challenges at the time, I instructed that payment of the said house be made to my personal bank account at UT Bank to help shore up the company’s liquidity,” he clarified.

Mr Amoabeng finds it strange that even after his response when he was interviewed about the said money, the Boulders report which was the source for the media reports on the issue did not factor any of his answers into its statement.

Below is a copy of the full statement:

Source: Myjoyonline.com
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