‘I had a hunch IMF played a role in UT Bank closure’ – Prince Kofi Amoabeng

Prince Kofi Amoabeng, former founder and CEO of UT Bank, has questioned the role of the International Monetary Fund (IMF) in the bank’s closure, following comments by the Bank of Ghana Governor suggesting IMF influence in banking sector reforms.

Amoabeng expressed disappointment in Africa’s leadership, implying a lack of independence in decision-making.

He criticized the abrupt and aggressive closure of UT Bank, accusing the authorities of exceeding IMF directives and unfairly targeting other UT companies, including the founder, who had resigned months earlier.

Amoabeng highlighted the human and financial toll, particularly on shareholders, and lamented the failure to address the broader consequences. His remarks raise concerns about Ghana’s governance, sovereignty, and the impact of external influence on national decisions.