President Akufo-Addo has granted pardons to several individuals, including Ato Essien, the former Chief Executive Officer of the collapsed Capital Bank.

This move, part of a broader clemency initiative, was officially announced in a letter dated December 31, 2024, at the close of the year.

Essien, who had faced legal troubles following Capital Bank's downfall during Ghana's financial sector reforms between 2017 and 2019, was convicted for financial crimes, including the embezzlement of GH¢620 million in liquidity support from the Bank of Ghana. His actions contributed to a financial crisis that eroded trust in the banking system.

In October 2023, Essien was sentenced to 15 years in prison after failing to meet the terms of an agreement to repay GH¢90 million in restitution. Despite receiving multiple extensions to comply, Essien only managed to repay a fraction of the amount, prompting the court to enforce the sentence. Essien's health has been a concern, with reports indicating severe medical conditions and multiple surgeries.

Along with Essien, the president also extended clemency to Philip Assibit, who was serving a 12-year sentence for his involvement in a fraudulent $4 million transaction related to the Ghana Youth Employment and Entrepreneurial Development Agency (GYEEDA). Assibit had been convicted of causing financial loss to the state through falsified documents that led to the misappropriation of funds.

These pardons, granted at the close of 2024, highlight President Akufo-Addo's exercise of his constitutional powers in a gesture aimed at promoting reconciliation and leniency for individuals suffering from severe health issues or having shown remorse.