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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
The Inspector-General of Police (IGP), Mr. Christian Tetteh Yohuno, together with members of the Police Management Board (POMAB), on April 17, 2026, decorated nineteen (19) senior officers who have been promoted to their next ranks based on the recommendations of the Police Council and approval of the President, John Dramani Mahama.
The ceremony, held at the National Police Headquarters in Accra, forms part of efforts to recognise merit, dedication, and long-standing service within the Ghana Police Service, while strengthening leadership across key operational and administrative levels.
The officers promoted from Deputy Commissioner of Police (DCOP) to Commissioner of Police (COP) are Dr. Luke Asue-In-Yeng Zakpaa, Mr. Frederick Agyei, Mr. Duuti Tuaruka, Mr. Arthur Osei-Akoto, Mr. Darko Offei Lomotey, Mr. Eric Ken Winful, Mr. Barnabas Nambont Nasumong, and Mr. Desmond Owusu Boampong.
The IGP and members of POMAB congratulated the officers and urged them to uphold the highest standards of professionalism and integrity in the discharge of their duties.
The Global Network of Export-Import Banks and Development Finance Institutions (G-NEXID) successfully held its sixth (6th) Exchange Programme, hosted by the Ghana Export – Import Bank (GEXIM) Bank in Accra from March 22 to 23 March.
The event brought together member institutions, partner organisations and Ghanaian public entities to advance dialogue on South-South trade, investment and development finance, while also creating opportunities for knowledge-sharing and institutional cooperation.
Organised as a capacity-building and networking platform, the 2026 edition of the G-NEXID Exchange focused on GEXIM’s experience in developing innovative solutions to promote intra-African and extra-African trade.
It also highlighted trade and investment opportunities in Ghana, particularly in the context of the African Continental Free Trade Area (AfCFTA) and broader national development initiatives.
The Exchange Programme forms part of G-NEXID’s mandate to foster cooperation among export-import banks and development finance institutions in support of South-South trade and investment.
This 6th edition follows earlier successful programmes hosted by India Exim Bank (2016), BNDES (2017), Indonesia Eximbank (2018), Afreximbank (2019) and Saudi EXIM Bank (2025).
On the first day, participants were presented with G-NEXID institutional information and received an update on the Network’s 2026 work programme.
There were a series of substantive presentations, including an overview of the Ghanaian economy by the Ministry of Finance, with particular attention to debt-related challenges; a presentation by the Ghana Investment Promotion Centre (GIPC), on investment opportunities in the country; and institutional presentations by GEXIM and Development Bank Ghana (DBG) on their respective mandates, initiatives, products and services.
Discussions during the sessions underscored strong interest in sector-focused webinars and business dialogues, particularly in agribusiness value chains such as poultry and rice.
Participants also emphasized the importance of continued information exchange and the sharing of best practices, especially in the area of guarantees.
The second day opened with a presentation on the 24-Hour Economy and Accelerated Export Development Programme, a national economic transformation strategy launched by President John Dramani Mahama in July 2025.
The initiative aims to enhance economic productivity through continuous industrial activity, accelerated export development and strategic import substitution.
As the programme is expected to mobilise both private and development capital, it presents concrete opportunities for G-NEXID members in areas such as co-financing, guarantees, trade finance and technical cooperation.
The programme also featured institutional presentations by guest organisations, namely the African Guarantee and Economic Cooperation Fund (FAGACE) and the West African Development Bank (BOAD), which shared their mandates, initiatives, products and services.
Following these exchanges, the G-NEXID Secretariat held bilateral discussions with both institutions as part of the Network’s ongoing membership drive.
Participants further benefited from a presentation by the Eastern and Southern African Trade and Development Bank (TDB), as well as a showcase of GEXIM’s key pipeline projects.
On the margins of the Exchange Programme, G-NEXID members also held their 20th Annual General Assembly Meeting to review progress and discuss strategic priorities.
Following the event, participants joined the GEXIM@10 International Conference, held from March 24-25, 2026 under the theme, “A Decade of Enabling Export Trade and Industrial Transformation: Resetting GEXIM for the Next Frontier.”
The conference provided an important platform for exploring how Ghana can strengthen its transition from a primary commodity exporter to a more competitive player in value-added trade and industrial development.
Source – G-NEXID
