Ghana News & Trends

Maybe I created enemies along the line – Kofi Amoabeng on UT Bank’s collapse

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Prince Kofi Amoabeng, the former CEO of the defunct UT Bank, has disclosed that the collapse of his bank could be a result of his ‘posture’ and probably some ‘enemies’ he created along his line of duty.

UT Bank was among the banks and microfinance companies President Akufo-Addo closed down in 2019 as part of his financial restructuring programme.

Kofi Amoabeng, who has been outspoken about the matter, said in a new GTV interview that he was on the phone with the Finance Minister a day before his bank was closed down by the government. He said the Finance Minister didn’t give him a hint.

Even though he doesn’t believe the Finance Minister had a direct hand in the situation, he thinks the collapse could be a result of his posture and some enemies he created along the line.

In an interview with Kafui Dey on GTV’s Breakfast Show (BFS), he said he was playing golf in his hometown, Kukurantumi, when he received the shocking news from his daughter.

He said he woke up to 60 plus missed calls the day his bank was closed. He said he didn’t see the calls because he always kept his phone silent before sleeping.

According to Kofi Amoabeng, he stepped down from the CEO position despite having major shares in UT Bank to make way for a new leader with fresh ideas to steer the affairs of the company, but that didn’t help either.

Watch the full interview below.

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Multiple award-winning entertainment journalist and founding editor at – I have spent over a decade covering entertainment, gossips and lifestyle around the world. Follow me on my official Twitter, Facebook and Instagram pages: @davidmawuli