Accra, Ghana – 30 July, 2025 – William Ato Essien, founder of the defunct Capital Bank, has been granted bail by the Court of Appeal after filing an appeal against his conviction.

Essien was released from jail after a three-member panel of the court granted him bail in the sum of GH¢10 million with two sureties. 

As part of the bail conditions, Essien must deposit his passport at the court's registry and report to the Registrar once a month.

Essien was sentenced to 15 years in prison in October 2023 for misappropriating over GH¢90 million from Capital Bank. His lawyers argued that his health had significantly deteriorated since his incarceration, and the Court of Appeal cited humanitarian considerations in granting the bail.

The Attorney-General's Office has not indicated whether it will challenge the bail ruling or proceed with preparations to respond to the substantive appeal.

Source: Lead News Online/Emmanuel Kofi Ahadzi