There seem to be a lot of public uproar on the recent news of 'rot' in the banking industry. The collapse of some giant indigenous banks has shaken the sector and raised serious concerns.
I write, not as an authority in the financial sector, rather as an educated, enlightened young Ghanaian having his country at heart. These recent developments has awakened some of us to develop an inclination towards the financial systems and structures laid in the country.
Personally, powerful light thrown at Capital Bank's saga seem to have caught my attention the most. I have keenly followed media engagement on the entire issue.
My drive to write and come to public from obscurity was born after perusing Chris Vincent’s write-up on the ugly mismanagement of Capital Bank led by Pastor Mensa Otabil.
Reading Chris' argument made me to feel that at last, there are some level-headed Ghanaians who resist to kowtow to religious indoctrination. It seems religious leaders are overrated and undeservingly revered and in addition cannot be
subjected to scrutiny or criticism.
So, I felt a bold man has stepped out to speak against the perhaps, most influential religious leader in the country and on the continent. I patiently followed his argument. They were sensible deductions but baseless claims.
However, I still gave him a thumbs-up for such bravado and education. The thoughts that started running through my head was, could Pastor Mensa Otabil - an epitome of wisdom, courage and character deign to misconduct himself in such a manner? Especially, having heard him preach, saying "Do not follow money, rather a calling, for money will bring you lots of sorrows, if it is your main goal in life".
I, then, hoped to read a reply from the pastor responding to the issue to clear the doubts of his wide listenership and readership. At last, he replied. His reply was clearly aimed at attacking the issue, making clear the exact role he played at the bank. He, in addition, stated to have submitted himself to the ongoing investigation by the EOCO et al.
Honestly, I was compelled to salute "His righteousness" for his decorum and collectedness in light of the developments and criticisms. I was glad because he responded sensibly and coherently without sentiments. Some financial
experts have rebuttalled his claim of holding a non-executive role as a board chairman to be a baseless argument to absolve him of blame and responsibility.
As an intellectual who upholds logical thinking and inductive reasoning, I opt to stand in the middle and form an unbiased perspective of the situation, making constructive arguments to help the ordinary Ghanaian understand and have a true
picture of the situation.
It is, undoubtedly, true that a board chairman together with his board has the responsibility of the directive role of the institution. Ergo, the need to interrogate and investigate Pastor Otabil.
However, analysis of the situation in relation to his
circumstance presents an otherwise perspective. This is a man who runs a Church-ministry full time and only invested hugely in the bank to see it develop into a multi-national corporation, especially, since he has been an advocate of
possibility thinking, inspiring millions of Africans to change their mindset and adapt a can-do spirit. It is not unknown that pastor do not have expertise in finance.
Thus, the presumption that he was elected Board Chairman due to his exemplary leadership, deep understanding of life, wise counsel and the courage to dare big things and, probably his huge share in the company. To call him incompetent
serves no purpose because he has no technical know-how in that field and also the fact that he is just a human and not beyond fallibility.
The most important consideration should be, what was his intentions? Did the man of God connive with the CEO to deploy resources and misappropriate funds to serve their personal interest?
These questions and many more are tools to effectively probe the issue to ascertain if he is culpable.
So, I come back to Chris Vincent. I was totally disappointed at Chris - a man whom I considered courageous and intelligent reply Pastor Otabil's response, using words such as ‘gibberish’ in reference to the scholar and ‘foolish’ for his followers.
It seems clear that Vincent's intentions is not to serve the interest of the Ghanaian populace but rather to capitalize on this issue to attack Pastor Mensah Otabil's personality with impunity.
I, herewith, urge Chris Vincent and his like-minded writers to be objective and do away with emotionalism, sentimentalism and vulgarism. This will only portray them as haters of the man of God. In the interim, investigations are underway and
in due time culpable fellows will be convicted and prosecuted. Hence, let us allow due process to work.
Thank you.
Yours faithfully,
…………………………………….
Sheriff Asiedu Ampem Alhassan.
(BSc Chemistry, MSc Economics, IELTS tutor)
E-mail: [email protected]
Source: Sheriff Asiedu Ampem Alhassan.
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I think Dr Mensah should have declined his appointment as the board chairman since he has no knowledge in banking Rather, as a Man of God with a full time Ministry should concentrate on what he knows best. Sometimes, it is very difficult to combine these responsibilities though his intentions are right.
This write up is straight a Band 9. Congrats Boss Sheriff. Higher height.
No man is perfect and all men at one point or the other in life make mistakes. Otabil is a man most of us regard very highly and it is sad how it seems like there is a systematic attempt by some Ghanaians to destroy him without waiting to find out what his exact actions were.( I am sure one of his spiritual sons went to beg him to become board chairman like how most young entrepreneurs go around looking for mentors.) That being said, ICGC as institution's information management of this issue was extremely poor. They had to take charge of the discourse and project the institution instead of the man, and they failed. My only hope is that this does not leave a stain on Dr. Otabil's otherwise sterling reputation.
His criticism of the free education is the cause of all this? . He is the John the Baptist of our time. May the goo Lord protect and comfort him.
IS OTABIL THE ONLY BOARD CHAIRMAN OF ALL THE 7 BANKS THAT HAVE COLLAPSED? GHANAIANS ARE HATERS
Ghanaians, especially loud mouth journalists are afraid to talk about the other six collapsed banks especially UNIBANK where billions are involved. Very selective public prosecution indeed.
It is always good to let people say what they feel or their minds, but unfortunately majority and a whole chunk of the people are not speaking to the issues of what exactly the Pastor did as a board chairman, was he not aware of all the transactions without collateral and money laundry and other malfeasance that led to the closure of the bank. Now I have seen why we as a country are not getting anywhere. I wished this happens in USA
@joey, it is the exact reason why people are criticizing pastor otabil and expecting him to practice what he preaches: the Word of God
A good piece.Let me remind you that Ghanaians are best tear-down artists on planet earth.I have never heard Mensah Otabil say anywhere that he is like Jesus Christ so does not make mistakes.My one regret is that he accepted the call to be the Board Chairman in the first place because he was then stepping into a field that is beyond his capabilities.My confusion though is this. 7 banks have collapsed. I presume all these banks had Boards and all these boards had Chair persons. So my question is why have we all fixated on Mensah Otabil and are pummelling him with unholy glee?If anything at all the one we should be putting under the microscope is Mr Dufuor .The man has been Governor of the Bank of Ghana and a Finance Minister .So questions should be asked as to how his bank got bust .But no the only villain in all this is Mensah Otabil simply because he preaches the word of God.
Yes, but that does not mean he is infallible, he is as human as all of us and is prone to making wrong judgments. My issue is the insults. There is too much negativity in the country