Finance

Court orders Capital Bank to pay outstanding GH¢12 million by July 27

It has emerged in Court on Tuesday, July 4, that Mr Ato Essien has so far paid GHc8 million of the GHc20 million leaving an outstanding balance of GHc12.

Essien last year entered into an agreement with the state under section 35 of the Courts Act and was asked to pay GHc60 million in three instalments of GHc20 million to the state.

But, records available since the deadline of the first instalment on April 28, he has only paid GHc8 million as at today July 4.

Before Justice Erich Kyei Baffour, a Justice of the Court of Appeal, sitting as an additional High Court judge, his lawyers represented by Baffour Gyau Bonsu Ashia request more time.

The Prosecution led by Deputy Attorney General Alfred Tuah Yeboah wondered how much more time he desired to pay despite not meeting the deadline.

Justice Kyei Baffour after listening to the parties urged Ato Essien to settle at least the balance of the outstanding GHc12 million by July 27.

The court said it will apply the sanctions should he fail to do so.

“The convict (Ato Essien) has only made GHc2 million payment since the last adjournment leaving an amount of GHc12 million that should have been redeemed at least by today (July 4.

“Based on the pleas of his counsel, I once again reluctantly give the convict one more opportunity to make payment.

“I will adjourn to July 27, 2023, for the amount of GHc12m to be paid by the convict,” Justice Eric Kyei Baffour stated.

According to EIB network’s Legal Affairs Correspondent, Murtala Inusah, the court turned a request from his counsel to move a Viva Voce argument to le his passport which is in the custody of the court to be released in other for him to embark on a business venture to mobilize funds.

 

Source: starrfm.com.gh

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. In addition to his media ventures, Solomon serves as a Brand Ambassador for Alabuga, a prominent Russian industrial company, representing their interests and expansion across Africa. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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