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General News Sat, 19 Aug 2017

You cannot trust BoG to do an unbiased job in investigating Capital Bank - NDC lawyer

Former Member of Parliament (MP) for the North Dayi constituency in the Volta Region, George Loh, believes the Bank of Ghana cannot be trusted to do a balanced investigation into what actually led to the collapse of the UT and Capital Banks.

?According to him, there is currently a conflict of interest, making it impossible to have the Bank of Ghana take up the matter.

This, he said, was because the wife of one of the associates of the Capital Bank is on the Board of the Bank of Ghana.

His comments are in referral to Mrs. Comfort Ocran, whose husband, Albert Ocran, is a pastor at the International Central Gospel Church (ICGC) - a church that owns 3% of shares at the collapsed Capital Bank.

In his view, you cannot trust the Bank of Ghana to do an unbiased job if "the wife of the senior pastor of the church" is on its board, adding that "clearly you are putting the person (Mrs. Ocran) in a conflict of interest."

?The former MP, therefore, believes that calls by the opposition National Democratic Congress (NDC) to have a fair investigation into the matter involving the UT and Capital Banks are not misplaced.

Last week the licenses of the aforementioned banks were revoked by the Bank of Ghana, following what was described as "severe impairment of their capital". ?

The ICGC, foundered by Dr. Pastor Mensa Otabil, has a stake particularly on the shares of the Capital Bank - something George Loh insists should mean no member of the church be allowed to be a part of its investigation process.

In his view, having Mrs. Comfort Ocran on the board of Bank of Ghana constitutes a direct conflict of interest due to her husband's role as pastor of ICGC.

Source: YEN
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