News
Capital Bank saga: Ato Essien ready to pay back GH¢27m to state
Lawyers of the former Chief Executive Officer (CEO) of Capital Bank, William Ato Essien, who is facing trial for the collapse of the financial institution, have indicated that their client is willing and ready to return about GH₵ 27 million to the state.
Mr Ato Essien has begun negotiations with the Attorney General to have some of the charges brought against him dropped.
His lawyers revealed that he has paid close to GH₵ 1.4 million and also given out some 19 newly cleared cars from the port to the state.
According to the lawyers, led by Thadeus Sory, engaging the AG based on section 35 of the Courts Act, which allows for an offer of compensation or restitution in respect of some of the charges brought against the accused persons is currently ongoing.
The lawyers have already indicated to the Economic and Organised Crimes Office (EOCO) that, their client was willing and ready to return about GH₵27 million to the state.
The Attorney General’s office in response confirmed the negotiations and informed the court that they will consider it.
The judge, Justice Kyei Baffour, adjourned the case to June 18, 2020, for the two parties to report back to him.
Mr Ato Essien is facing trial, with three former executives of the defunct bank; Fitzgerald Odonkor, Kate Quartey-Papafio and Tetteh Nettey for 26 charges levelled against them.
The prosecution, led by the Attorney General (AG), Ms Gloria Afua Akuffo, accused the four persons of engaging in various illegal acts that led to the dissipation of the GH¢620 million liquidity support given to Capital Bank by the Bank of Ghana between June 2015 and November 2016.
It is the case of the AG that Essien, with Odonkor’s aid, transferred the liquidity support to certain companies either controlled by him or in which he had an interest.
According to the AG, GH₵ 130 million of the liquidity support was transferred to MC Management Services, which was later presented to the BoG as the initial capital to set up Sovereign Bank, another bank in which Essien had an interest.
She further alleged that between June and October 2015, Essien, aided by Odonkor, appropriated GH¢27.5 million of the liquidity support by carrying it in jute bags.
“The money was purportedly used as payment for business promotion,” she told the court.
Ms Akuffo also accused Essien of giving some liquidity support to his cronies in the form of a loan to be used to buy shares in Capital Bank.
With regard to Quartey-Papafio, the A-G said as part of the scheme to further dissipate the GH¢620 million liquidity support, Essien transferred GH¢ 70 million of the money into Quartey-Papafio’s bank account at Cal Bank.
She further accused Quartey-Papafio of trying to withdraw the money in 2017, even though she was aware that Capital Bank had collapsed and was in receivership.
The withdrawal, the A-G submitted, was, however, prevented by the receivers of Capital Bank.
During his application for bail, counsel for Quartey-Papafio, Dr Dominic Ayine, a former Deputy A-G, rebutted the facts presented by the A-G.
He described the case as a ground-breaking one in the country’s jurisprudence.
“This is going to be the first case in the history of this country that stealing has occurred with the consent of the owner,” counsel contended.
Making his case, he argued that the GH¢620 million liquidity support was essentially a loan that was granted to Capital Bank by the BoG, which was supposed to be paid with interest.
“Essentially, this was money belonging to Capital Bank,” he said.
Counsel further submitted that per Section 60 of the Companies Act, 2019 (Act 992), there was nothing wrong with a lending institution giving out loans for people to buy in that institution.
Source: Citinewsroom.com
A woman who is accused of bolting with ‘susu’ money totaling GH₵156,445 has appeared before an Accra Circuit Court.
Martha Nana Esi Afful was alleged to have collected the money from 35 complainants.
Charged with 35 counts of fraudulent breach of trust, Martha, who was earlier remanded, pleaded not guilty.
The court, presided over by Mr Joseph Y. Kuunsong on Wednesday, admitted the accused person to a GH₵200,000 bail with two sureties.
One of the sureties, the court said, must be a public servant earning not less than GH₵5,000.
She is expected to reappear on August 12, 2026.
The Prosecution’s case before the court is that the complainants are traders and residents at La in Accra.
Prosecution described Martha as a ‘Susu’ collector, who resided at Burma Camp.
The court heard that the accused person run a business with the name ‘ZOE’ and she deceived the 35 complainants into believing that she collected ‘Susu’ daily, which was kept for a period of one-three years, and paid interest on the money invested.
The complainants contributed in 2023 for a three-year period, prosecution said.
In December 2025, when the complainants went to take their money with interest, Martha went into hiding and only took phone calls from a few complainants.
Prosecution said the accused provided a MTN Momo number through which a few of the complainants still paid monies.
It said all efforts made to collect the money, totaling GH₵156,445 from her, proved futile.
On June 14, 2026, a report was made to the police and Martha was picked up at a washing bay at Tse Addo.
During interrogation, she admitted the offence in her caution statement, saying she lost her husband and relocated to Swedru in the Central Region, hence the complainants were unable to reach her from December 2025 till date.
Prosecution said Martha further stated that she had invested the monies into refuse collection business and she needed time to pay the amount.
Police are investigating the claims. –GNA
A Public Health Nurse at the Roman Ridge Sub-Municipal of the Ayawaso West Health Directorate, Ms Patience Adoli Kporxah, has cautioned the public against coming into contact with floodwaters, warning that exposure can lead to serious diseases, infections and injuries.
Floodwater, she said, should always be treated as contaminated, regardless of how clean it appears, because it may contain sewage, human and animal waste, chemicals, fuel, sharp objects and disease-causing micro-organisms.
In an interview with The Spectator in Accra on Thursday, Ms Kporxah explained that contact with contaminated floodwater exposes people to bacteria, viruses, parasites, hazardous chemicals and other physical hazards that can result in illness or injury.
Her advice came in the wake of recent exposure to floodwater following Monday’s torrential rains that left vast areas of the capital flooded.
As a result, a lot of people were seen either ‘swimming’ in the floodwater to rescue people or retrieving items being washed away.
According to her, exposure to floodwater could cause skin infections, particularly where there are cuts or open wounds, as well as diarrhoea diseases such as cholera, typhoid fever, dysentery and other forms of gastroenteritis if contaminated water was swallowed.
Other health risks, she said include hepatitis A, eye and ear infections, tetanus in people with untreated wounds or incomplete vaccination, and injuries from submerged sharp objects, debris or electrical hazards.
Ms Kporxah advised anyone who had contact with floodwater to monitor their health closely and seek immediate medical attention if they develop symptoms such as fever, diarrhoea, vomiting, abdominal pain, severe headache, muscle aches, skin rash, difficulty breathing, or yellowing of the eyes or skin.
She also urged people whose wounds became red, swollen, painful or begin to discharge pus, as well as those who accidentally swallow floodwater, to report to the nearest health facility without delay.
Although not everyone exposed to floodwater requires immediate treatment, she stressed that pregnant women, people with weakened immune systems, individuals living with chronic illnesses and those with significant wounds should seek prompt medical evaluation.
On water safety, Ms Kporxah cautioned that rainwater was not automatically safe for drinking or cooking, especially during or after flooding. She explained that rainwater collected from roofs, gutters or open containers could be contaminated by bird and animal droppings, dust, leaves, bacteria, viruses, parasites and chemical pollutants.
She advised that rainwater intended for drinking should first be treated by boiling, chlorination or another approved water purification method before use.
Touching on food safety, Ms Kporxah said factory-sealed bottled drinks and canned foods with intact packaging might still be safe after flooding.
However, she stressed that any containers submerged in floodwater should be thoroughly cleaned and disinfected before handling. Foods in paper packaging, damaged containers or products with broken seals should be discarded because contaminated water may have seeped into them.
She further warned that flooding increases the risk of outbreaks of cholera, typhoid fever and other waterborne diseases through contaminated water sources.
In addition, she said flooding could contribute to respiratory illnesses in overcrowded shelters and mould-infested buildings, foodborne illnesses from spoiled or contaminated food, and mental health conditions such as anxiety, stress, depression and trauma.
It could also disrupt access to medicines and healthcare for people living with chronic conditions, including diabetes, hypertension, asthma and kidney disease.
Ms Kporxah therefore urged the public to practice good hygiene, avoid unnecessary contact with floodwater, consume only safe food and drinking water, and seek medical attention promptly whenever symptoms develop.
She said observing these preventive measures would help minimise the risk of disease outbreaks and protect lives as the country continues to experience heavy rains and flooding in some communities.
By Esinam Jemima Kuatsinu
