President Akufo-Addo pardons Capital Bank’s Ato Essien and 10 other convicts

President Nana Akufo-Addo has granted a presidential pardon to the founder of the defunct Capital Bank, William Ato Essien, and ten (10) other persons convicted of various crimes.

Ato Essien was sentenced to 15 years in prison with hard labour by an Accra High Court on 12th October 2023 on charges of stealing over GH¢90 million in liquidity support provided to the financial institution by the Bank of Ghana (BoG) to enable it to service its maturing debt.

A letter dated 31st December, signed by Kow Abaka Essuman, Acting Secretary and Legal Counsel to the President, stated that the decision was in line with Article 72 (1) of the Constitution. The letter further indicated that Ato Essien is suffering from severe life-threatening medical conditions and has undergone multiple surgeries as a result.

Meanwhile, the ten other persons have either been granted reduced sentences or their freedom under the President’s prerogative of mercy.

Article 72 (1) states that:

“The President may, acting in consultation with the Council of State—
(a) grant to a person convicted of an offence a pardon either free or subject to lawful conditions; or
(b) grant to a person a respite, either indefinite or for a specified period, from the execution of punishment imposed on him for an offence; or
(c) substitute a less severe form of punishment for a punishment imposed on a person for an offence; or
(d) remit the whole or part of a punishment imposed on a person or of a penalty or forfeiture otherwise due to Government on account of any offence.”

Check the full list below.

Read Full Story