William Ato Essien, Former Capital Bank CEO, Granted Presidential Pardon by Nana Akufo-Addo

William Ato Essien, the former CEO of the defunct Capital Bank, has been granted a presidential pardon by outgoing President Nana Akufo-Addo.

This decision comes after Essien was sentenced to 15 years in prison in December 2023 for his involvement in the collapse of Capital Bank, which had significant financial and legal consequences.

Essien, who was also ordered to pay GHS 90 million as restitution, had struggled to meet the full repayment demands. Despite making partial payments, he was unable to pay the remaining balance, which ultimately led to his incarceration.

The presidency issued a statement noting that the pardon was granted following concerns over Essien’s serious health condition. The former bank executive has been battling severe, life-threatening medical issues, having undergone multiple surgeries in recent times. His deteriorating health was a key factor in the decision to offer him compassionate relief, with the review process taking these circumstances into account.

The pardon marks a significant turn of events for Essien, whose legal troubles and health struggles have been closely followed in the public eye.