The 'devil is bad' – Otabil reacts to suit

Dr. Mensa Otabil has said the suit against him following his role in the defunct Capital bank may help bring the “truth” out.

The receiver of the failed bank PricewaterhouseCoopers has sued Pastor Otabil and 16 other directors of the bank to retrieve the about GHC800 million lost to the state as a result of their actions.

In his comment on the matter, the renowned preacher told his church Tuesday that the suit is just an opinion and will be challenged through the court process.

“I know people have all kinds of questions and so on. I can’t explain anything to you because I’m in court. We will allow the process to continue and hopefully, the full truth will be known. There is space for people’s opinion but when you go to court you are not just dealing with people’s opinions, you deal with facts.

“It’s going to be interesting,” he added.

Speaking to his congregation, Otabil added that, “The only thing I want to say briefly is that when someone sues you, it is not an evidence, neither is it a judgement, it is just somebody’s opinion and there will be defence and other things so follow closely how things will proceed and how they’ll end.”

“The last time I said God is good, people didn’t like it so I don’t know if to say God is good but I can definitely say the devil is bad, that can also be quoted,” Pastor Otabil further noted.

Background

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, both of PricewaterhouseCoopers (PwC).

The plaintiffs are seeking to use the legal action to recover over GH¢837 million, being what they said were loans that the shareholders granted to themselves which remained unpaid. By their alleged actions, the plaintiffs said, the defendants “have breached their fiduciary duties under the Companies Code, 1963 (Act 179) and have caused serious financial loss to the bank.”

The shareholders and the directors joined to the suit as defendants in the Capital Bank suit include the Founder of the Capital Bank, Mr William Ato Essien; Mr Oheneba Osei-Akoto, Mr Stephen Enchill, Mr Kingsley Atta Ghansah, Otabil & Associates, Mr Kwadwo Ayisi-Ahwireng, Mr Isaac Osah Thompson-Mensah and Mr John Kofi Mensah.

The rest are Mr Edwin Obeng Donkor, the former Chief Executive of the bank; Mr Fitzgerald Odonkor, Mr Amadu Montia, Mr Kofi Kwakwa and Mr Francis Adu Mante.