‘Did IMF order Rambo-style UT Bank closure?’ – Prince Kofi Amoabeng questions BoG’s actions

Prince Kofi Amoabeng, former CEO of UT Bank, criticized the Bank of Ghana (BoG) for its handling of UT Bank’s closure, suggesting undue influence from the International Monetary Fund (IMF).

Speaking on Joy News, he questioned the BoG Governor’s admission of IMF involvement, arguing it reflects weak leadership and a lack of sovereignty in decision-making.

Amoabeng highlighted the dramatic execution of the closure, including police intervention and the targeting of UT Holdings and its founder, despite his resignation 20 months prior.

He lamented the broader impact on stakeholders, including 15,000 shareholders, employees, and investors, accusing authorities of neglecting the consequences. He concluded by calling for stronger leadership and a more independent approach to Ghana’s financial management.