The Court of Appeal has granted bail to William Ato Essien, the former Managing Director and founder of the defunct Capital Bank, as he seeks to challenge his 15-year prison sentence for causing financial loss to the state.
Essien was granted bail set at GH₵10 million with two sureties. His conviction in October 2023 followed the collapse of a restitution agreement after he failed to pay funds pledged in connection with the alleged misappropriation of GH¢90 million in liquidity support from the Bank of Ghana to Capital Bank.
The court ruled for a custodial sentence after Essien defaulted on the agreed repayment terms.
The recent bail decision comes amid increasing public appeals for clemency on humanitarian grounds. A growing number of Ghanaians—including those behind an online petition addressed to the President—have cited Essien’s declining health as a compelling reason for compassionate consideration.
On July 27, Dr. John Apea, Head of Missions at the Commonwealth Enterprise and Investment Council and a board member of the Commonwealth Human Rights Office for Africa, highlighted Essien’s condition during a live discussion on X Spaces. He disclosed that Essien is currently wheelchair-bound due to a spinal injury sustained while in custody.
Dr. Apea raised serious concerns about the quality of medical care available in prison, noting that Essien is not receiving the treatment he urgently needs.
“For me, clemency is the most pressing issue now,” Dr. Apea stated. “Forget the legal details—this is about a man’s life. He’s a father, a brother, a son. Do we leave him in a condition where he cannot care for himself? Is that justice or a form of slow execution? Ghana doesn’t impose the death penalty for financial crimes, but this feels like one.”
He further criticized the justice system for what he described as unequal treatment of convicted individuals in similar high-profile financial crime cases, urging fairness and compassion in Essien’s case.
