Ex Capital Bank MD, Rev Odonkor not detained – EOCO Boss

The Director of the Economic and Organised Crimes Office, Mr K. K. Amoah, says his outfit has neither arrested nor detained the former Managing Director of the erstwhile Capital Bank, Reverend Fritzgerald Odonkor.

He told Graphic Online Tuesday afternoon that “nobody has been arrested nor detained in connection with the investigation into Capital Bank.”

He was responding to earlier media reports that Rev Odonkor was detained after honouring an invitation to the anti-graft investigating body.

Mr Amoah said although Rev Odonkor was part of six former directors of the collapsed bank that honoured an investigation for “a discussion” on the collapse of the bank, none of them was detained.

“What is going on is a discussion with them. We did invite. We invited all of them and what we are doing now is we are looking at the report together,” he said.

“About six of them came and we had a round table discussion,” he added.

He, however, declined to say whether or not Rev Mensa Otabil, the Board Chairman of the defunct bank was part of the six persons who appeared before EOCO.

Capital Bank, which was an indigenous bank, collapsed in August last year after the Bank of Ghana withdrew its licence and that of UT Bank for being illiquid and deficient in capital.

It was the anti-climax of years of financial challenges that had dogged the two banks, resulting in deterioration in their respective capital adequacy ratios to limits below regulatory requirements and a pile up of liabilities.

Following the collapse, Graphic Online understands that Bank of Ghana has completed an extensive investigation into the circumstances leading to the fate of the two banks.

The report was then forwarded to the EOCO for action, prompting the office to invite the former directors of the collapsed banks for “a discussion.”
EOCO’s Executive Director said it was possible that former directors of the erstwhile UT Bank will also take their turn at the office Wednesday, as the process continues.