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Court accepts Ato Essien’s GH¢90m repayment terms
An Accra High Court has modified its place and accepted the GH¢90 million repayment terms on Ato Essien’s restitution deal.
The Court presided over by Justice Eric Kyei Baffour final week rejected the settlement deal between state prosecutors and the embattled founding father of now-defunct Capital Bank, Ato Essien.
Justice Eric Kyei Baffour, a Justice of Appeal, sitting as a further High Court Judge, rejected the settlement, indicating that the quantity agreed to be paid was not adequate, and adjourned the case to December 13 for the events to handle the court docket on the authorized foundation of the terms of the settlement.
Ato Essien and two others have been on trial for the previous three years for his or her involvement within the collapse of Capital Bank. The prosecution had additionally accused Mr. Essien of misappropriating GH¢620 million liquidity assist prolonged by the Bank of Ghana to assist hold the financial institution afloat.
The prosecution and the accused in arriving on the settlement informed the court docket they got here underneath part 35 of the Courts Act, 1993, Act 459 (as amended). The provision states as follows:
“(1) Where a person is charged with an offence before the High Court or a Regional Tribunal, the commission of which has caused economic loss, harm or damage to the State or any State agency, the accused may inform the prosecutor whether the accused admits the offence and is willing to offer compensation or make restitution and reparation for the loss, harm or damage caused.”
Justice Kyei Baffour was sceptical in regards to the software of part 35 of the Courts Act to the current case, as he famous that the monies concerned belonged to depositors and shareholders of the defunct financial institution and never the state per se.
By the proposed settlement, Mr. Essien agreed to pay GH₵90 million in complete: GH₵30 million as we speak and GH₵60 million by instalment to the state.
But the court docket was sad with the association.
The decide additionally thought that the timing for the announcement of the deal was not one of the best, as he was able to ship his judgement.
Background
Mr. Essien is standing trial along with the previous Managing Director of the Bank, Rev. Fitzgerald Odonkor, and a former Managing Director of MC Management Service, Tetteh Nettey, additionally owned by Mr. Ato Essien.
Together, they have been tried on 23 counts of criminality, together with conspiracy to steal and stealing in reference to the collapse of Capital Bank in 2017.
They nonetheless pleaded not responsible to the costs and maintained their innocence all all through the trial, with Mr. Ato Essien sustaining in any respect materials moments that he had Board approval for all actions he took.
Section 35 of the Courts Act, 1993 (Act 459)
(1) Where an individual is charged with an offence earlier than the High Court or a Regional Tribunal, the fee of which has prompted financial loss, hurt or harm to the State or any State company, the accused could inform the prosecutor whether or not the accused admits the offence and is prepared to supply compensation or make restitution and reparation for the loss, hurt or harm prompted.
(2) Where an accused makes a suggestion of compensation or restitution and reparation, the prosecutor shall contemplate if the provide is suitable to the prosecution.
(3) If the provide just isn’t acceptable to the prosecution the case earlier than the Court shall proceed.
(4) If the provide is suitable to the prosecution, the prosecutor shall within the presence of the accused, inform the Court which shall contemplate if the provide of compensation or restitution and reparation is passable.
(5) Where the Court considers the provide to be passable, the Court shall settle for a plea of responsible from the accused and convict the accused on his personal plea, and in lieu of passing sentence on the accused, make an order for the accused to pay compensation or make restitution and reparation.
(6) An order of the Court underneath subsection (5) shall be topic to such situations because the Court could direct.
(7) Where an individual convicted underneath this part defaults within the fee of any cash required of the individual underneath this part or fails to fulfil any situation imposed by the Court underneath subsection (6), any quantity excellent shall grow to be due and payable and upon failure to make the fee, the Court shall proceed to cross a custodial sentence on the accused. [As substituted by the Courts (Amendment) Act, 2002 (Act 620), s.4]
Source: citinewsroom.com
Ghana’s parliament has marked the 2nd edition of May Day 2026 under the theme “ Welcome Home”.
It was special day meant to celebrate the invaluable support of the workforce, recognizing the commitment, resilience, and contributions of workers to institutional growth and national development.
Delivering the message on behalf of the Speaker, the 1st Deputy Speaker, Bernard Ahiafor, described the theme as very apt, appropriate, and timely, noting that Parliament is more than a workplace, it is a shared home.
He emphasized that we cannot speak about work without speaking about people, reminding everyone that the true measure of our work is the well-being of our people.
He urged that our traditional clothing become an integral part of our everyday clothing, and that our local languages must become integral to our daily lives, interwoven into education and practiced at home.
Referencing Standing Order 63, which captures the use of local language as optional in deliberations, he encouraged a renewed commitment to identity, saying it is significant that we “come home” and present who we are so future generations can inherit a story they can fully tell.
The Clerk, Mr. Ebenezer Ahumah Djietror, in his remarks commended officers for their dedication and devotion to duty, calling on them to go the extra mile and leave legacies.
Echoing the reminder that an unexamined life is not worth living, he described the event as an invitation to reconnect with our roots through cultural revival.
The Deputy Clerk, C&FMS, Dr. Gloria Sarku Kumawu, urged all not to forget their roots, the people behind the stories of ministries, industries, and the strides made both in-house and beyond.
What began last year has now become a meaningful tradition, showcasing Ghanaian heritage, fostering unity, and encouraging innovation under the principle of diversity for unity and diversity for progress, she added.
The gathering brought together leadership, public officials, and staff across all levels, along with the media, standing as a unifying platform that honored service, celebrated culture, and reaffirmed a shared commitment to national development.
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Manhyia would serve as Ghana’s unifying force …Otumfuo assures on commemoration of 27 years on the Golden Stool
The Asantehene, Otumfuo Osei Tutu II, last Friday celebrated his 27th enstoolment with a colourful and culture-rich ceremony at the Manhyia Palace in Kumasi, drawing a distinguished gathering of dignitaries from across Ghana and beyond.
Clad in splendid kente and adorned in rich traditional regalia, the dignitaries added colour and elegance to the occasion, as the palace grounds came alive with a vibrant display of Ghanaian culture.
Traditional drumming, dancing and symbolic rites underscored the deep-rooted heritage of the Ashanti Kingdom, captivating guests and reaffirming the value of tradition in modern society.
Speaking at a high-level Executive Gala organised by the Diaspora Affairs Office of the Office of the President in strategic partnership with the E ON 3 Group, the ‘World-Meets-in-Ghana’ gala, the Asantehene urged Ghanaians to guard against the divisive tendencies of partisan politics.
The event was to honour the Asantehene’s nearly three-decade reign under the theme ‘Advancing Peace and Sustainable Economic Development through Royal Vision’.
Otumfuo Osei Tutu II noted that such attitudes threatened the country’s long-standing values of unity, civility and brotherliness.
He assured that Manhyia would continue to serve as a unifying force for the nation.
The celebration also featured the presentation of commemorative gold coins to notable national leaders, including the President, John Dramani Mahama, former Presidents John Agyekum Kufuor and Nana Addo Dankwa Akufo-Addo as well as Dr Mahamudu Bawumia, a former Vice President in recognition of their contributions to peace and national development.
By Spectator Reporter
