Grant Ato Essien pardon-Lawyer petitions Mahama
Essien was sentenced to 15 years in prison by an Accra High Court after being found guilty of misappropriating over GH¢90 million in liquidity support that the Bank of Ghana had provided to Capital Bank.
A legal appeal has been made to President John Dramani Mahama, urging him to grant clemency to William Ato Essien, the founder of First Capital Plus, later known as Capital Bank.
A petition, signed by lawyer Andrew Appiah-Danquah and dated February 27, 2025, questions the fairness of Essien’s conviction and subsequent imprisonment.
It highlights his contributions to Ghana’s financial sector, emphasizing that his leadership and entrepreneurial drive created employment opportunities, supported businesses, and fostered local economic growth.
Essien was sentenced to 15 years in prison by an Accra High Court after being found guilty of misappropriating over GH¢90 million in liquidity support that the Bank of Ghana had provided to Capital Bank.
Initially, he was given the chance to avoid incarceration by agreeing to repay the full amount as restitution to the state. While he managed to make an upfront payment of GH¢30 million in December 2022, he was unable to settle the remaining GH¢60 million within the agreed-upon timeframe. This failure led the court to hand down a custodial sentence.
The petition argues that Essien’s conviction undermines the success of an entrepreneur who demonstrated that indigenous financial institutions could compete in a challenging market. Additionally, it claims that the 2017 collapse of Capital Bank was not due to fraud but was instead politically motivated, suggesting that Essien’s refusal to relinquish control of his bank to certain influential interests led to its downfall.
Further points in the petition contend that the GH₵620 million liquidity support received by Capital Bank was a commercial loan rather than an act of fraud. The document asserts that the bank had been repaying this loan, having already paid GH₵336 million in interest over two years, proving it was a legitimate financial arrangement.
Regarding a controversial GH₵480 million transaction labeled a "shareholder loan," the petition claims that this was a strategic restructuring of non-performing assets, a common banking practice aimed at stabilizing financial institutions rather than an attempt at fraud.
Another issue raised is the acquittal of three co-defendants—Dr. Tetteh Nettey, Rev. Fitzgerald Odonkor, and Kate Quartey-Papafio—on similar charges. The petition notes that the court determined their financial transactions were legal, yet Essien alone was convicted, raising concerns about inconsistencies in the ruling.
The appeal further alleges that Essien was pressured into a plea bargain to avoid a prolonged trial, committing to pay GH₵90 million—an amount reportedly higher than the actual financial loss. So far, he has already paid GH₵43.75 million.
Calling for presidential intervention, the petition urges President Mahama to grant Essien a pardon, arguing that doing so would serve the cause of justice and demonstrate a commitment to fairness in Ghana’s legal system.
"A presidential pardon for Ato Essien will not only correct an injustice but will also reaffirm your vision for a Ghana where fairness and justice prevail," the petition concludes.
Read the petition below
