Akufo-Addo Pardons Capital Bank's Ato Essien and 8 others

Jan 6, 2025 - 11:59

Jan 6, 2025 - 12:52

Akufo-Addo Pardons Capital Bank's Ato Essien and 8 others

Ato Essien, former CEO of Capital Bank was sentenced to 15 years in prison for mismanaging funds and embezzling GH¢620 million in liquidity support provided by the Bank of Ghana.

Accra, Ghana - 06 Jan, 2025 - Ghana's President Nana Addo Dankwa Akufo-Addo has exercised his presidential prerogative, granting pardons to nine convicts, including two high-profile individuals convicted of financial crimes.

Ato Essien, former CEO of Capital Bank, was among those pardoned. Essien was sentenced to 15 years in prison for mismanaging funds and embezzling GH¢620 million in liquidity support provided by the Bank of Ghana. Despite his poor health, Essien had been serving his sentence.

Philip Assibit, another individual convicted of financial crimes, also received a pardon. Assibit was serving a 12-year sentence for willfully causing financial loss to the state through a fraudulent transaction involving a $4 million loan meant for the Ghana Youth Employment and Entrepreneurial Development Agency.

Seven other convicts were also granted pardons, including individuals convicted of murder, human trafficking, manslaughter, conspiracy to rob, and possession of narcotics. The pardons were communicated in a letter dated December 31, 2024, marking the end of the year with a gesture of leniency and reconciliation.

Below is a list of the other seven pardoned convicts and their crimes;

1. Akwasi Alhassan – He was convicted of murder and sentenced to death on 19th March 1993. He has been in prison since then (31 years). He is now serving life imprisonment per presidential order.

2. Beatrice Ofori – She was convicted of human trafficking on 6th June 2023 for 8 years with hard labour. She is currently 64 years old and is seriously hypertensive. This has affected both legs, leading to her inability to move freely. She spends most of her time in the prison infirmary.

3. Frank Obeng – He was convicted of manslaughter and sentenced to 40 years in prison. He is currently serving his sentence in Nsawam Prison. His sentence is proposed to be reduced from 40 to 12 years.

4. Stephen Nyarko – He was convicted of conspiracy to rob and robbery in December 2010 and sentenced to 30 years. He has served 22 years in total, including time spent in remand.

5. Osman Inusah – He was convicted of conspiracy to commit robbery even though he was found not guilty of armed robbery. A petition submitted on his behalf states that he has mental health challenges, which need to be treated and managed at home.

6. Joseph Nana Kwaku Boateng – He was convicted for attempted export and possession of narcotic substances on 28th May 2019 and sentenced to 15 years. He has served 8 years in total including five spent in remand.

7. Emmanuel Adu Mensah – He was convicted of possession of narcotics and sentenced to a prison term of 15 years in April 2024. He is currently serving his prison term in Nsawam Prison.