Ato Essien case : Bank of Ghana official cross-examined

Lawyers for Ato Essien, founder of the defunct Capital Bank have cross-examined an official of the Bank of Ghana at the High Court in Accra.

On March 3, 2022, the High Court, presided over by His Lordship Eric Kyei Baffour JA has ordered the Governor of the Central Bank to produce the Statement of Account of the defunct Capital Bank spanning the duration, June 2015 to August 2017.

Additionally, the Court directed an official of the Bank of Ghana to appear before it to tender the same.

This was after lawyers for the founder of the Bank, Ato Essien had earlier prayed the court to compel the Bank of Ghana to produce the said documents.

Consequently, a Deputy Chief manager at the Banking Department of the Central Bank, Emmanuel Edward Arhin produced some documents on the liquidity support, which is the subject matter of this case and was cross-examined by lawyers for the first accused.

In the subsistence of the cross-examination by counsel, Baffour Gyawu Bonsu Ashia, the BoG official admitted that Capital Bank had an operational account with the bank of Ghana into which the said liquidity support was paid into.

Additionally, it was established by Mr. Arhin that the BoG credited the first tranche of the support to the tune of GH¢150 million into the operational account on June 26, 2016, and interest of  GH¢3, 057,534 was paid.

Founder of the Defunct Capital bank, Ato Essien is standing trial with the Managing Director (MD) of the bank Fitzgerald Odonkor and the MD of MC Management Services, Tettey Nettey.

The 3 have been accused of dissipation of a chunk of the GH¢620 million liquidity support given to the Capital Bank by the BoG between June 2015 and November 2016.

They have meanwhile pleaded not guilty to various counts of stealing, abetment of stealing, conspiracy to steal, and money laundering.