Court of Appeal Grants GH¢10m Bail to Defunct Capital Bank CEO Ato Essien Amid Health Concerns
The Court of Appeal has granted bail to the former Managing Director and founder of the now-defunct Capital Bank, William Ato Essien, as he seeks to challenge his 15-year custodial sentence for causing financial loss to the state.
Mr. Essien, who was convicted in October 2023 after failing to honour a court-sanctioned restitution agreement, was granted bail to the tune of GH¢10 million with two sureties.
His conviction followed the collapse of a payment agreement intended to recover part of the GH¢90 million in Bank of Ghana liquidity support misappropriated during his leadership at Capital Bank. His default on the agreed repayment terms ultimately led to his incarceration.
The court’s decision on bail comes amid rising public appeals for clemency on humanitarian grounds, citing Essien’s deteriorating health condition. An online petition to the President and mounting calls from influential individuals have intensified pressure for a reassessment of his custodial status.
Speaking on the matter, Dr. John Apea, Head of Missions at the Commonwealth Enterprise and Investment Council and Board Member of the Commonwealth Human Rights Office for Africa, expressed grave concern about Mr. Essien’s health. According to Dr. Apea, the former banker has suffered a spinal injury while in custody and is now confined to a wheelchair.
During a discussion on X Spaces held on Sunday, July 27, Dr. Apea remarked: “As it stands now, Ato is not receiving the necessary medical care that a prison facility can offer. The real issue here is that we have a father, a brother, a son who can’t take care of himself in prison because of his ill health. Do we leave him there? Is that rehabilitation, or is that a death penalty?”
He further added, “We don’t have capital punishment for financial crimes in Ghana, but is this a silent execution we are putting ill inmates through?”
Dr. Apea also criticised the perceived inconsistencies in Ghana’s justice system, questioning the parity of treatment meted out to Mr. Essien compared to other high-profile individuals convicted of similar offences.
The court’s bail ruling now offers Mr. Essien temporary reprieve as his legal team prepares to mount an appeal against the conviction. It remains to be seen whether the growing public sympathy and legal arguments will be sufficient to overturn his sentence or secure a presidential pardon.
