President Akufo-Addo pardons Ato Essien the day before leaving office.

According to Citi FM, President Nana Addo Dankwa Akufo-Addo has pardoned Ato Essien, former CEO of the defunct Capital Bank. The presidential pardon was announced on January 6, 2025, one day before President Akufo-Addo's official departure from office on January 7, 2025.

In December 2022, Ato Essien was convicted after pleading guilty to stealing and misappropriating about GH¢90 million from Capital Bank. His activities contributed to the bank's failure, resulting in significant losses and financial instability in Ghana's banking industry. He escaped a jail sentence by accepting a plea bargain that forced him to reimburse the stolen funds in installments.

The former banker's legal problems began amid Ghana's banking reforms in 2017, when the Bank of Ghana terminated Capital Bank's licence. Investigations indicated that Essien misappropriated cash intended to stabilize the bank, which led to its demise. His conviction was one of the most prominent cases in Ghana's banking sector clean-up.

While many people saw his sentencing as a measure to increase accountability in the banking sector, others thought it was too light because he avoided jail time. President Akufo-Addo's decision to pardon him has raised disputes over justice, fairness, and political interference.

Critics say the pardon hinders the battle against corruption and financial crimes. However, they say Essien has showed sorrow by repaying a portion of the stolen money and deserves another chance.

President Akufo-Addo's decision to pardon Ato Essien on the verge of leaving office is going to be a contentious issue. Many Ghanaians are eager to see how the future government would handle similar incidents and combat corruption in the country.