He urged his congregation not to equate the suit to evidence of wrongdoing because it is simply somebody’s ‘opinion’ and version of events.
Mensa Otabil, and his church International Central Gospel Church (ICGC) are among 15 shareholders and directors of defunct Capital Bank sued over the collapse of the bank in 2017.
The Plaintiffs Messrs Vish Ashiagbor and Eric Nana Nipah from PricewaterhouseCoopers say the bank’s collapse was a “direct result’ of defendants’” “‘misgovernance” and “willful” breaches of banking regulations.
Otabil provided guarantee at a Board meeting that the founding CEO, William Ato Essien’s request for ¢130m loan from public funds to bail-out the struggling bank will be repaid.
That was despite “express opposition” from the bank’s senior management. The statement of claim said the money given out in 2015 has not been paid after three years.
The writ faulted the pastor for guaranteeing the disbursement explaining, he was “conscious at all material times” that it was in breach of banking regulations.
His church ICGC and his company Obtabil and Associates have been asked in the suit to cough up ¢51.6m each after a ¢482m loan was shared among the shareholders and directors.
Responding to news of the suit which broke Monday, Mensa Otabil urged his members to “follow closely” events about to unfold in court.
He also urged them against rash judgment explaining “a suit is not an evidence that there is a judgment”, he told a fired-up congregation that appeared ready to rally support for the motivational speaker.
There was space for humour too as he recalled his initial response when news media reported in August 2018, portions of a financial autopsy report into the collapse of the local bank, recommended he is questioned about his role.
Under intense public pressure, the pastor appeared in church with a three-worded sentence repeated thrice.
“God is good, God is good, God is good”, he said, a response that sparked social media subscribers into frenzied repetition partly in friendly jest and other is outright derision.
“The last time I said God is good people didn’t like it”, he said to ripples of laughter.
“I don’t know whether to say God is good this time but I can definitely say the devil is bad”, he gave fresh fuel to social media platform.
“It is going to be interesting”, the pastor flashed a buoyant mood not hostile to humour.
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