A huge loan to Ibrahim Mahama collapsed UT Bank – Prince Kofi Amoabeng

loan to Ibrahim Mahama collapsed UT Bank
A huge loan to Ibrahim Mahama collapsed UT Bank – Prince Kofi Amoabeng

Mr Prince Kofi Amoabeng, former Chief Executive Officer (CEO) of defunct UT Bank, says the high level of thievery by some staff and a huge loan to Ibrahim Mahama contributed significantly towards the bank’s collapse.

Mr Amoabeng in a media interview in Accra alleged that a number of staffs who joined the financial institution were “plain thieves” who engaged in acts that compromised the bank’s financial health.

Mr Amoabeng cited loans including the ones disbursed to Ibrahim Mahama’s Dzata Cement Company and failure to pay it as some of the reasons that caused trouble for the bank.

However, Mr Amoabeng said he never regretted his decision to advance such a loan facility to Dzata Cement, which belonged to former President Mahama’s brother.

On promises by former President Mahama to return collapsed banks to their owners if he wins the December polls, Mr Amoabeng said such promises were not feasible, saying; “Such promises are only good for the ears”.

Source: TheBBCghana.Com