I used UT Bank to bail out Akufo-Addo, Ofori-Atta but they collapsed it – Kofi Amoabeng

The former Chief Executive Officer of defunct UT Bank, Prince Kofi Amoabeng has accused President Nana Addo Dankwa Akufo-Addo and Finance Minister, Ken Ofori-Atta of backstabbing him.

According to the former banker and soldier, he has always struggled to come to terms with the events surrounding the revocation of UT Bank’s operating licence by the government 2017.

Speaking on the Wednesday, March. 1, 2023, edition of Onua Maakye hosted by Captain Smart, the retired military captain said his bank ever came to the rescue of president Akufo-Addo and his cousin, Mr Ofori-Atta when they needed help, thus he finds it baffling the manner in which their government collapsed his bank.

“The very people who are in government now I’ve had the occasion to actually bail them out using the same UT and I gave them the opportunity and tried to become who they are now.

“The President himself (Akufo-Addo) at some point in time, UT was there to bail him out and Ken Ofori-Atta and the others, his partners and Databank, yes, UT bailed them out.

“So we’ve fed you before, so, even if you’ll collapse it, it should not be the way it was done. You can call me and tell me the situation is beyond repairs but not invading our premises with the police at 6am and hacking our signs down and I had no clue,” he told host, Captain Smart.

The Bank of Ghana in August 2017 announced the revocation of the licenses of UT Bank and Heritage Bank over what the central bank said bothered on solvency.

The collapse of UT and Heritage Bank spiralled into a GH¢21 billion banking sector clean up by the Akufo-Addo government which saw the licences of nine banks and more than 370 financial institutions being revoked.