Outgoing President Nana Akufo-Addo has granted a presidential pardon to William Ato Essien, founder of the defunct Capital Bank, along with 10 other convicted individuals.
Ato Essien, once a prominent figure in Ghana’s financial sector, founded Capital Bank in 2009, positioning it as one of the country’s promising indigenous banks. However, his legacy came under scrutiny when Capital Bank was among the first financial institutions to collapse during Ghana's banking sector cleanup in 2017. Investigations revealed widespread mismanagement and embezzlement of funds, leading to his arrest in 2019.
Essien was charged with embezzling over GH¢90 million of liquidity support provided by the Bank of Ghana to stabilize Capital Bank. The court found that instead of utilizing the funds for their intended purpose, he diverted them for personal and unauthorized business ventures. This included transferring large sums to companies owned by him and his associates, which significantly contributed to the bank's collapse.
In October 2023, an Accra High Court sentenced him to 15 years in prison after he failed to fully repay the stolen funds, despite agreeing to a restitution plan. His conviction highlighted the broader issues of corporate governance failures and financial malpractice within Ghana’s banking sector.
Under the prerogative of mercy, Essien, who served one year of his sentence, was granted clemency due to "severe life-threatening medical conditions" that required multiple surgeries.
The presidential pardon also included eight other individuals, such as Philip Assibit, jailed for 12 years for his role in the GYEEDA scandal, and Beatrice Ofori, a 64-year-old convicted of human trafficking who is suffering from serious health issues. Akwasi Alhassan, who had spent over 30 years in prison for murder, was also among those pardoned.
While the decision to pardon individuals convicted of financial crimes, human trafficking, and murder has been justified under compassionate grounds, it has sparked criticism. Many argue it undermines the rule of law and public trust in Ghana's justice system. Critics have questioned the criteria for selecting these individuals for clemency and the broader implications for accountability and justice in the country.
ABOUT PRESIDRNTIAL PARDON
In Ghana, a presidential pardon is a constitutional power granted to the President under Article 72 of the 1992 Constitution. This provision allows the President to grant clemency to individuals convicted of crimes, reducing their sentences or completely absolving them of legal penalties. The pardon can take various forms, including commutation (reducing a sentence), remission (waiving fines or penalties), or reprieve (temporary suspension of punishment).
The process typically involves recommendations from the Council of State and the Ghana Prisons Service. The President's decision aims to promote justice, mercy, or rehabilitation, especially in cases of exceptional circumstances, such as terminal illness, good behavior during incarceration, or miscarriage of justice.
However, the use of presidential pardons often sparks public debate. While some view it as an act of compassion and justice, others criticize it when it appears to undermine the judicial process or show favoritism, particularly in high-profile cases involving political or economic crimes.