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We’ll still pursue Ato Essien for ¢53m debt despite jail term – Deputy AG
Deputy Attorney General Alfred Tuah Yeboah has said the State will not give up in its quest to recover the ¢53 million from the former CEO of the defunct Capital Bank, Ato Essien despite being handed a jail term.
Mr Yeboah insisted that the amount will not be forfeited for any reason as the state needs it.
Speaking in an interview with JoyNews, the Deputy AG said encumbered assets of the convict will be traced and seized.
According to him, this will be done through a civil action that will be brought against the convict.
“If he serves this sentence, the State will still pursue him and get the remaining amount and so it is not as if he is going to serve his sentence and then the amount will be forfeited.”
“We are going to trace his encumbered properties and go after that in a civil action,” Mr Tuah-Yeboah said.
Mr Ato Essien was sentenced to 15 years imprisonment with hard labour by Justice Eric Kyei Baffour.
Ato’s imprisonment comes following his inability to fully pay the GH¢90m amount back to the State after agreeing to do so.
He earlier paid ¢30 million upfront in December 2022 and was required to pay ¢20 million as the first installment of the ¢60 million outstanding amount by April 28, 2023.
But he was only able to pay ¢5 million. In May, he was given until July 4, to liquidate his assets and pay the state GH¢55 million. This deadline elapsed without any payments made.
The state then submitted a request to the court, seeking a custodial sentence in line with the agreed terms.
Justice Eric Kyei Baffour upon a request by the convict’s lawyer deferred the hearing of the application to impose a custodial sentence.
Meanwhile, a private legal practitioner, Kweku Paintsil has said Ato Essien’s jailing is not surprising.
Mr Paintsil noted that Mr Essien’s jail term has nothing to do with his capability to pay the judgement sum.
However, it is the natural consequence of his noncompliance with the terms agreed with the court.
“The conviction that came as a result of his noncompliance or failure to pay the money ordered by the court is not surprising. It is the natural consequences of his noncompliance,” he told Blessed Sogah on Thursday, October 12, 2023.
Background
William Ato Essien, Rev. Fitzgerald Odonkor and Tetteh Nettey, a former Managing Director of MC Management Service owned by Mr. Essien were charged with 23 counts of conspiracy, stealing from the ¢620 million liquidity support given to the bank by the Bank of Ghana (BoG), to enable it to service its maturing debt.
The accused persons, according to the prosecution, opened various bank accounts with Capital Bank through which the ¢620 million BoG liquidity support was transferred while others were carried in jute bags to Ato Essien.
Source: Myjoyonline.com
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Many SOEs have been used as mere instruments for personal wealth accumulation –Pres.Mahama
President John Dramani Mahama has expressed concern over the misuse of State-Owned Enterprises (SOEs) for personal financial gain by individuals in leadership positions.
Speaking during a meeting with Chief Executives of specified entities under the State Interest and Governance Authority (SIGA) on Thursday, March 13, the President directly attributed the dire state of SOEs to their leadership, accusing chief executives, management teams, and governing boards of prioritising personal enrichment over organisational efficiency.
He pointed to bloated budgets, unjustified allowances, and unnecessary expenditures as factors draining public funds while SOEs continue to rely on government bailouts.
“Many SOEs have been used as mere instruments for personal wealth accumulation by appointees. The chief executives, management, and boards of these enterprises are responsible for this situation. Some SOEs have become perennial loss-makers, draining public funds with bloated budgets, unjustified allowances, and unnecessary expenditures while relying on government bailouts as if entitled to them. Many of these entities are at their lowest point in the entire history of the Fourth Republic,” he said.
President Mahama further noted that many SOEs have been plagued by inefficiencies, corruption, and mismanagement, leading to consistent financial losses. He cited the 2023 State Ownership Report by the State Interests and Governance Authority (SIGA), which highlighted systemic inefficiencies and wasteful expenditures within these entities.
He therefore reaffirmed his commitment to reforming under-performing SOEs and ensuring they serve national interests.
He warned that loss-making SOEs will no longer be tolerated and will either be merged, privatised, or closed.
“I will assess you based on your performance. If you do not align with the pace of the reset agenda, you may be asked to step aside. If that adds to the horror movie, so be it,” he added.
Source: Myjoyonline.com
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Prophet Courage Heavens set to launch ‘Predestination’ book on March 23
Prophet Courage A. Heavens is set to launch the much-awaited book titled ‘Predestination’ on Sunday, March 23, 2025 at 5:00PM.
The launch, which is expected to impact lives, will take place at Crossgates Ministries, Flattop, off N1 Highway, opposite Angel Hauz.
The book is aimed at addressing the way people struggle to understand how free will and destiny align.
It is also aimed at providing clarity on God’s sovereignty and one’s place in His divine plan.
The various chapters of the book address various issues through scriptures and personal stories.
Committed to impacting society, part of the proceeds from the book will go into Courage Heavens Education Legacy (CHEL), an educational foundation transforming lives.
CHEL is dedicated to providing financial support and mentorship to brilliant but needy students, ensuring they have access to quality education and opportunities for a better future.
Prophet Courage Heavens is a prolific writer and previously authored Eli Eli Lama Sabachthani, a powerful book that encourages unwavering faith in times of trials.
In addition, he has written seven more prophetic and life-changing books that are yet to be published.
He is dedicated to raising the next generation for impactful ministry. As the leader of Crossgates Ministries, he nurtures believers in faith and purpose.
