Prince Kofi Amoabeng, the founder and Chief Executive Officer of the defunct UT Bank, has described the general Ghanaian public as possessing certain bad traits.

He made this observation during an interview on the Compass Show. "Generally, Ghanaians are not good people, let's accept it. Sometimes we are evil, we hate people for no reason, we are jealous of people, we are not honest when dealing with people, wherever. We like corruption, we have been corrupted, and we get into all sorts of things," he stated.

Juxtaposing his assertion to a biblical context, he stated that people with such bad character usually get bad leaders as a form of punishment from God.

"When a people are that bad, God will not build them up. The only way for God to punish them is to give them a bad leader who will make sure that things don't happen for them. Because you see, the Israelites were in bondage for over 435 years, I hear if you read the Bible. So God looked at them, so-called God's people, 435 years yet, and he sat somewhere and said, 'You guys, learn some lessons,' before he bailed them out and took them to the Promised Land. That is in the Bible.

"But I believe when the people are not doing what is right and what is pleasing to their creator, the creator will not just dote on them. He needs them to learn bitter lessons, and the way to learn bitter lessons is to give them a leader who will make sure things are bitter for them," he stated.

Kofi Amoabeng's UT Bank had its operating license revoked by the Bank of Ghana in August 2017 as part of a general cleanup exercise within the nation's banking sector. Several financial institutions lost their licenses mainly for being insolvent.