Speaking with Peacefmonline.com on Wednesday, September 19, Kumchacha insisted that anybody involved in the collapse of the bank must be jailed.
“What I will say is that banking is a collection of money from the public and not from one person. So anybody involved in the collapse of Capital bank must be jailed. Whether the person is a board Chairman or member, all who are involved must be jailed,” he argued. Pastor Mensa Otabil who is a Founder and leader of the International Central Gospel Church has explained in a statement issued on August 14, 2018, that, during his non-executive role as a Board Chairman of the bank, some decisions that were made turned out well while some did not turn out as well as had been anticipated, but Kumchacha believes anyhow, Pastor Mensa Otabil was involved in the collapse and should face the law.
"As far as I can tell, everything was done with the best of intentions and the interest of various stakeholders in mind."
"My foremost concern, as has been the case over the past year, is for the well-being of those who lost their jobs and those who may have been adversely affected in any way as a result of these developments. My heart goes out to them and to their dependents. I continue to pray for God’s guidance and sustenance as they navigate the course of their lives," he stated in the nine-point statement which comes a year after the Bank of Ghana put the bank on a purchase and assumption.
He concluded in the statement that he will continue to cooperate with the state institutions probing the collapse of the bank.
Capital Bank, along with another indigenous bank, UT Bank, collapsed in August last year due to liquidity challenges and all their assets taken over by state-owned GCB Bank.
Capital Bank received GHc610 million from the Bank of Ghana to cure its liquidity struggles and the funds were allegedly mismanaged, leading to its collapse.
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