Dr Apea Defends Ato Essien Over GH¢90 M Capital Bank Loan
Dr John Apea, a respected figure at the Commonwealth’s human rights office, recently made waves by questioning the narrative around William Ato Essien—the founder of the now-defunct Capital Bank. According to Dr Apea, the controversial GH¢90 million wasn't stolen—it was a loan, and Essien was wrongly painted as a thief. What Dr Apea Is Saying He challenged the story that Essien misappropriated GH¢90 million. Instead, he says that figure refers to liquidity support disbursed by the Bank of Ghana—a loan the bank repaid diligently. Essien earned a finder’s fee of GH¢27.5 million, a standard arrangement for facilitating such loans—not illicit income. The bank continued paying monthly dues of GH¢14.4 million without default, even repaying over GH¢308 million before being closed. Dr Apea also points to a strange irony: the Managing Director of Capital Bank, who approved the fee payment, was acquitted, yet Essien was convicted for simply receiving it. How […]