In recent times, the Presiding Bishop of Perez Chapel International, Bishop Charles Agyinasare has been on the neck of the Akufo-Addo led government.
The attack by the renowned man of God which is uncharacteristic of him follows the decision by government to collapse indigenous financial institutions.
Bishop Agyinasare has questioned why government could not salvage locally-owned uniBank, GN Bank and UT Bank during the cleanup of the financial sector.
In his virtual sermon on Sunday, 19 July 2020, under the theme: ‘Getting rid of envy’, Bishop Agyinasare said the same “demons” that possessed politicians in the days of old to collapse local businesses were still lingering and wreaking havoc.
“I have been asking myself: So, for Dr Kwabena Duffuor, under whose time as Minister of Finance, we had the best economic growth rate of 14 percent, there was nothing we could do with his bank?”
“What about Dr Papa Kwesi Nduom, who introduced or expanded susu banking and had branches than any commercial bank with more customers?” the Perez Chapel International founder asked.
“Then, my own Amoabeng, who helped me grow my money to my first $100,000, which I withdrew and gave out for the building of the Dome, as part of my contribution. Could nothing have been done to salvage some of these great institutions?”
Even though the reason behind the sudden onslaught by Bishop Agyinasare was initially sketchy, it has emerged that it is related to the collapse of FirsTrust Savings and Loans.
Bishop Agyinasare was the board chairman of the defunct FirsTrust Savings and Loans whose license was revoked in 2019 by BOG.
The company was initially called EZI savings and loans. FirsTrust was licensed to operate in Ghana on 28th January 2015.
The Bank of Ghana conducted reviews from 2015 to 2017, and all indicators proved that the company was in severe distress.
The net worth and the capital adequacy ratio reported by Firstrust Savings and Loans were both negative as at the end of May 2019.
Moreover, FirsTrust had real issues with meeting customer withdrawals which resulted in serious agitations by aggrieved customers.