MASLOC ex-operations boss granted GH¢500,000 bail pending appeal
A five-member panel of the apex court, presided over by Justice Amadu Tanko, granted the application for bail on Wednesday, 14 January 2026, nearly two years after Axim began serving his sentence.
The Supreme Court has admitted former Head of Operations at the Microfinance and Small Loans Centre (MASLOC), Daniel Axim, to bail in the sum of GH¢500,000 as he challenges his conviction and five-year jail term.
A five-member panel of the apex court, presided over by Justice Amadu Tanko, granted the application for bail on Wednesday, 14 January 2026, nearly two years after Axim began serving his sentence.
Under the court’s order, Axim is to:
Provide two sureties, one of whom must be justified with landed property
Ensure the security for bail is a landed property valued at GH¢500,000, to be verified by a land surveyor
Deposit his passport with the Registrar of the Supreme Court
Report to the registrar every two weeks, with the registrar keeping a record of his attendance
The court further directed that if Axim fails to report for three consecutive weeks, the registrar must issue a certificate to that effect.
The panel also ordered the Registrar of the High Court to transmit the full record of proceedings to the Court of Appeal within one month to facilitate the hearing of the substantive appeal.
The panel included Justices Samuel Asiedu, Senyo Dzamefe, Philip Bright Mensah, and Kweku Tawiah Ackaah-Boafo.
Axim was convicted on 16 April 2024 by the Financial and Economic Division of the High Court, presided over by Justice Afia Serwah Asare-Botwe, a Justice of the Court of Appeal sitting as an additional High Court judge.
He was tried together with former MASLOC Chief Executive Officer Sedina Christine Tamakloe Attionu, who was convicted in absentia and sentenced to 10 years’ imprisonment.
Both were found guilty on 78 counts, including:
Conspiracy to steal
Stealing
Wilfully causing financial loss to the state
Causing loss to public property
Improper payment of public funds
Unauthorised commitment resulting in financial obligations for the government
Money laundering
Contravention of the Public Procurement Act
Dissatisfied with the judgment, Axim, through his lawyer Augustines Obour, filed an appeal in April 2024 against both conviction and sentence.
However, progress on the appeal stalled, prompting his legal team to apply for bail pending appeal, arguing that he had already served close to two years out of his five-year custodial term.
The application was moved by Lawyer Augustines Obour and opposed by Principal State Attorney Hilda Craig, led by Chief State Attorney Winifred Sarpong.
Despite the opposition from the State, the Supreme Court exercised its discretion in favour of Axim, granting bail on strict terms while the appellate process is activated.
