Kumchacha Hits Mensa Otabil’s Groin

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For Mismanaging Capital Bank and Church Money

Founder and Leader of Heaven’s Gate Ministries, Nicholas Osei, popularly known as Prophet Kumchacha, has hit hard at the founder of International Central Gospel Church (ICGC), Pastor Dr. Mensah Otabil, over the recent takeover of Capital Bank by GCB Bank.

According to him, Pastor Otabil, who is the board chairman for Capital Bank, couldn’t resuscitate Capital Bank with less than two million customers when it was on the verge of collapsing, yet he was quick to criticize and called Former President John Mahama’s government ‘incompetent’.

There are reports that the chunk of the bank’s cash ,was moneys from the church by way of offertory, tithes and donations by church members.

“When President Mahama was in power, Dr. Mensa Otabil called him ‘incompetent’. He extensively criticized the former President that he can’t rule over 27 million population but you (Otabil) with this small Bank (Capital Bank), you couldn’t keep this bank in business and sat to watch it collapse,” Kumchacha disclosed to Gatuso on Aben Wa Ha show on Kasapa FM.

The Akan speaking pastor, revealed how disappointed he is with regards to Dr. Mensa Otabil’s high level of academic excellence and strong links, but failed to utilise them to keep his own bank in business.

The GCB Bank Ltd, announced total takeover of UT Bank and Capital Bank, a Press statement from the Bank of Ghana said Monday.

This follows the BoG’s approval of a Purchase and Assumption transaction with GCB Bank Ltd that transfers all deposits and selected assets of UT Bank Ltd and Capital Bank Ltd to GCB Bank Ltd.

According to the BoG, the move has become necessary, due to a severe capital impairment of the two financial institutions.

Kasapa FM, reports that it has learnt some three banks, put in bids to purchase the two banks, but GCB was selected on the basis of purchase price, cost of funding, branches to be retained, staff to be employed and impact on the acquiring bank’s capital adequacy ratio’, the central bank said.

Notwithstanding this, the Bank of Ghana, said deposits of customers are safe and banking operations of the two banks would continue as normal.

‘The Bank of Ghana assures the public that all customers can continue normal banking business at all UT Bank and Capital Bank facilities which are now branches of GCB bank’.

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