Mahama Urged to Grant Presidential Pardon to Embattled Businessman Ato Essien

President John Dramani Mahama has been formally petitioned to exercise his executive prerogative by granting a presidential pardon to William Ato Essien, the visionary founder of First Capital Plus, which subsequently evolved into Capital Bank.

A meticulously crafted petition submitted by Andrew Appiah-Danquah, a distinguished lawyer, has raised profound concerns regarding the apparent inconsistencies and injustices surrounding Essien’s conviction and subsequent imprisonment.

The petition underscores Essien’s remarkable contributions to Ghana’s financial landscape, notably his instrumental role in creating thousands of employment opportunities, fostering the growth of local businesses, and empowering Ghanaian entrepreneurs.

According to the petition, “The demise of Capital Bank in 2017 was not precipitated by fraudulent activities, but rather a deliberate and orchestrated maneuver to consolidate financial power. Mr. Essien’s unwavering refusal to acquiesce to political pressure, thereby relinquishing control of his bank to powerful interests, ultimately culminated in its targeted downfall.”

The petition also presents a compelling argument that the GH₵620 million liquidity support extended to Capital Bank was, in fact, a legitimate commercial loan, rather than a fraudulent transaction.

Furthermore, the petition asserts that the GH₵480 million characterized as a “shareholder loan” was not embezzled, but rather a strategic restructuring of non-performing loans accumulated over a period of 14 years.

The petition further highlights the apparent paradox in the court’s decision to acquit three other accused persons Dr. Tetteh Nettey, Rev. Fitzgerald Odonkor, and Kate Quartey-Papafio—on the same charges for which Essien was convicted, thereby casting a shadow of doubt on the fairness and integrity of Essien’s conviction.

In a poignant appeal to President Mahama, the petition implores him to exercise his executive authority to grant a presidential pardon to Essien, stating, “Granting a Presidential Pardon to Ato Essien will not only serve to restore justice, but also underscore your unwavering commitment to a truly new Ghana one where the sacrosanct principles of freedom and justice are not merely rhetorical flourishes, but living, breathing realities.”