Dr. John Apea, Head of Mission at the Commonwealth Enterprise and Investment Council and a Board Member of the Commonwealth Human Rights Office in Africa, has strongly refuted claims that businessman William Ato Essien stole GHS90 million from the defunct Capital Bank, calling the allegation “a fictional tale of enormous scale.”
Speaking at a press briefing today at the International Press Centre in Accra, Dr. Apea said his intervention was based on documented evidence presented to him in his official capacity and not on speculation or political interest.
“There was no theft,” Dr. Apea said. “The GHS90 million figure, which has been widely reported in the media, is extremely contentious. What we are dealing with is a finder’s fee that was lawfully negotiated and paid to Mr. Essien — not stolen funds.”
Misconceptions Around Liquidity Support
Dr. Apea clarified that the Bank of Ghana’s liquidity support to Capital Bank was not a grant but a commercial loan with a 28% annual interest rate.
He revealed that until the bank’s closure, it had repaid GHS308 million out of the total support and had never defaulted.
“It was not free money. The bank was repaying GHS14.4 million every month,” he explained. “That narrative of a free giveaway has led to public outrage based on a fundamental misunderstanding.”
The Finder’s Fee Controversy
The crux of Dr. Apea’s argument centers on a GHS27.5 million finder’s fee Mr. Essien received for facilitating the liquidity support. Dr. Apea explained that Essien, who was neither Managing Director nor part of the bank’s management, earned the fee as a facilitator — a common business practice.
“Everyone who’s ever used mobile money knows what a facilitation fee is. This was just that — a business arrangement. It wasn’t theft,” he stated.
He noted that the Managing Director who authorized the payment was acquitted in court, yet Mr. Essien, who received the same amount, was convicted and remains imprisoned, wheelchair-bound and in deteriorating health.
“How is the payer acquitted, but the receiver jailed for the same transaction? I’m not great at math, but I know that equations must balance.”
Repayment and Human Rights Concerns
Dr. Apea disclosed that Mr. Essien repaid the GHS27.5 million — plus an additional GHS16 million — totaling GHS43.5 million before his incarceration.
He described Essien’s continued imprisonment as a miscarriage of justice that raises human rights concerns.
“This is not just about Ato Essien. It’s about fairness and the future of every Ghanaian. Anyone who has ever done side work for a business or negotiated a deal should be paying close attention.”
Dr. Apea announced the Commonwealth Human Rights Office’s plan to launch a justice portal in September, allowing individuals across Africa to submit claims of wrongful imprisonment, with pro bono lawyers ready to intervene.
“This is the first time I’ve seen evidence this clear. We’ll fight for others too, but this is where we start.”
Addressing Criticism and Legal History
Responding to questions about Essien’s initial agreement with the State under Section 35 of the Courts Act — a plea bargain that collapsed due to a failed payment schedule — Dr. Apea acknowledged the complexity of human decisions under duress.
“We don’t know what pressures he was under. Maybe he feared for his life, his family, his freedom. Decisions made under fear shouldn’t be used to justify a flawed process.”
A Call to the Media and Public
Dr. Apea urged journalists and the public to look beyond headlines and seek the full context, adding that a formal petition for clemency will soon be submitted to the President of Ghana. The petition will symbolically collect one signature for each day Essien has spent in prison — now over 630.
“We ask you, members of the Fourth Estate, to help amplify the truth. This is not about politics. It’s about justice.”
Dr. Apea concluded his address by reiterating that his motivation was not personal but guided by duty.
“I never knew Ato Essien personally. I was never his business partner. But I believe in evidence — and the evidence shows he should not be in prison.”
