In a controversial turn of events, President Nana Akufo-Addo has granted freedom to William Ato Essien, the former CEO of the defunct Capital Bank, who was sentenced to 15 years in prison for his role in the bank's collapse.
Essien, who was ordered by the court to pay a sum of GH¢90 million as part of his sentence, defaulted on the payment. Despite this, the president has exercised his executive powers to free him, sparking widespread debate about accountability and justice in high-profile financial crimes.
Essien's role in the collapse of Capital Bank, one of Ghana's major banking institutions, had significant repercussions for the country’s financial sector, leaving many depositors stranded. His release is expected to reignite discussions around the enforcement of laws in cases involving economic and financial malfeasance.
Critics and legal experts are questioning the decision, calling for clarity on the president's rationale, while supporters argue that executive interventions are within the bounds of constitutional authority.
This development raises important questions about the intersection of justice, politics, and executive discretion in Ghana.
