The Court of Appeal has unanimously overturned the conviction and 10-year custodial sentence imposed on Sedina Tamakloe Attionu, former Chief Executive Officer of the Microfinance and Small Loans Centre (MASLOC). She was acquitted and discharged of all charges, including stealing and causing financial loss to the state, on July 30, 2026.
This decision reverses a High Court ruling from April 16, 2024, which had convicted Ms. Attionu in absentia on 78 counts. The charges included conspiracy to steal, causing financial loss to the State, and money laundering, related to her tenure between 2013 and 2016. Her co-accused, Daniel Axim, MASLOC's Operations Manager, was also convicted and sentenced to five years for raising memos for misused funds.
The case highlights Ghana's ongoing struggle with public sector accountability and the management of state funds. MASLOC, established to provide microfinance and small loans, plays a critical role in supporting small businesses and alleviating poverty. Allegations of misappropriation within such institutions often undermine public trust and hinder economic development efforts, drawing significant public and media attention.
A three-member panel comprising Justice Emmanuel Ankamah, Justice Emmanuel Senyo Amedahe, and Justice Samuel Obeng-Diawuo delivered the appellate court's judgment. They held that the prosecution had failed to prove its case beyond reasonable doubt. The court criticized the trial judge's approach, stating she had lost sight of the constitutional principle that every accused person is presumed innocent until proven guilty. The full reasons for the acquittal were contained in a 94-page judgment.
This acquittal has significant implications for public sector corruption cases and the judicial process in Ghana. It underscores the importance of rigorous evidentiary standards and adherence to constitutional principles in criminal proceedings. Decision-makers and legal observers will closely watch how this ruling influences future prosecutions of public officials and the public's perception of justice.
Ms. Attionu's journey to acquittal involved an extradition process from the United States. In July 2024, the Government of Ghana formally requested her extradition. United States Marshals arrested her in Nevada on January 6, 2026. A U.S. magistrate judge certified her extradition on April 9, 2026, and she was surrendered to Ghanaian authorities on June 8, 2026. She arrived in Accra on June 9, 2026, to begin serving her initial 10-year sentence before the appeal.
Daniel Axim, her co-accused, was granted bail by the Supreme Court on January 14, 2026, in the sum of GHS 500,000 with two sureties, pending his appeal. He had served nearly two years of his five-year sentence at that point. Legal observers suggest that following Ms. Attionu's successful appeal, Mr. Axim may also ultimately be acquitted and discharged. The Supreme Court directed the High Court Registrar to transmit trial records to the Court of Appeal within one month to facilitate Mr. Axim's appeal.
This case reflects the complexities of prosecuting high-profile financial crimes involving public officials. The unanimous decision by the Court of Appeal highlights the appellate system's role in reviewing lower court judgments and ensuring justice. The outcome will likely spark further debate on the effectiveness of anti-corruption efforts and the judicial system's capacity to handle complex financial cases in Ghana.