I have sued BoG; my properties need to be protected – Ato Essien

Former Managing Director of defunct Capital Bank, William Ato Essien says he has taken legal action against Bank of Ghana, in the wake of protecting his assets.

According to him, though he has forgiven the Central Bank over the dissolution of the bank he founded,the suit is purposely to protect his personal assets.

“My property must be protected under the Property Protection Act; we are a property-owning democracy. Hard work must be rewarded. This has been my baby for 15 years,” he said.

In an interview monitored by The Ghana Report  on September 26, Ato Essien said he has accounted for every money he was accused of spending, while serving as the Managing Director of the Bank.

According to him, he has been cleared by the Economic and Organised Crime Office (EOCO) of any wrongdoing, the main reason why he is breaking silence after two years.

BACKGROUND

Capital Bank was among the first universal banks to go down, following reforms by the Central Bank in 2017.

Capital Bank, together with UT Bank, was handed over to GCB Bank to manage.

Later in 2018, five other banks were amalgamated into the Consolidated Bank Ghana (CBG).

Others like the GN Bank were also downgraded to savings and loans firms in 2019.