His Excellency the President, Nana Addo Danquah Akufo Addo, has granted pardon to Ato Essian, the former Chief Executive Officer of the defunct Capital Bank, and other convicts.
The President’s pardon is part of his constitutional prerogative to grant mercy before leaving office.
This was communicated in a letter dated December 31, 2024, to mark the end of the year with a gesture of reconciliation and leniency.
Mr. Ato Essian’s Capital Bank was implicated in Ghana’s financial cleanup exercise conducted by the government of the New Patriotic Party under the leadership of President Addo Danquah Akufo Addo.
The cleanup exercise, which was conducted between 2017 and 2019 was set to bring sanity to the banking and financial sector.
After investigations, Ato Essian was found guilty of financial crimes relating to the mismanagement of funds, including the embezzlement of GH¢620 million in liquidity support provided by the Bank of Ghana to Capital Bank. This led to widespread financial instability and contributed to the loss of trust in the banking sector, leading to his sentence in October 2023 to 15 years’ imprisonment.
In addition to Ato Essien, the President extended clemency to Philip Assibit, another individual convicted for willfully causing financial loss to the state after being found guilty of fabricating documents to justify the payment.
Mr. Assibit’s case stemmed from an illicit transaction involving a loan of $4 million meant for the Ghana Youth Employment and Entrepreneurial Development Agency (GYEEDA).
The list of the other seven pardoned convicts and their corresponding crimes include the following:
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.
