The High Court in Accra has directed Nana Appiah Mensah, popularly known as NAM1, to submit his witness statement by February 9, 2026. This follows the court’s decision to strike out a motion seeking a stay of proceedings in the criminal case, where he is accused of using Menzgold Ghana Limited to conduct unlawful gold trading. The order, issued by Justice Ernest Owusu-Dapaa, came after the withdrawal of the application filed on January 13, 2026. The prosecution of NAM1 forms part of a broader criminal trial involving multiple individuals and corporate entities linked to the operations of Menzgold Ghana Limited.
In court on Monday (February 2, 2026), counsel for the accused, Paa Joy Akuamoah Boateng, told the court that the application for stay of proceedings had become ineffective after the withdrawal of a related judicial review application before the Supreme Court. He explained that the pending motion before the High Court had been rendered “negatory” by the decision of the applicant to discontinue the substantive process and therefore prayed the court to strike it out as withdrawn. The prosecution, led by Watkins Adama, a Senior State Attorney, did not oppose the application.
He told the court that the Republic had no objection to the withdrawal of the motion for stay of proceedings, describing it as a procedural step that did not prejudice the prosecution’s case. The court said an appeal against a summary of proceedings remained pending but ruled that it did not halt the trial. In its ruling, the court said that “trial shall proceed,” and directed the first accused person which is NAM1, to continue with his evidence in chief. Justice Owusu-Dapaa further ordered the accused to file any proposed documentary evidence at least three clear days before the next sitting, while the other accused were also directed to file their proposed documentary evidence.
In his evidence, NAM1 told the court that Menzgold Ghana Limited was incorporated under the laws of Ghana to engage in gold mining, buying, value addition and export. He acknowledged that such activities required regulatory licences and maintained that the company held the necessary approvals at the time it operated, explaining that the licensing process involved documentation, payment of statutory fees and regulatory assessment.
He added that the regulatory structure later changed when PMMC’s role shifted from licensing to national assay functions. The accused further told the court that although the company possessed incorporation and licensing documents, he had been unable to access some of them after the Securities and Exchange Commission (SEC) shut down the company and law enforcement agencies preserved its offices. According to him, this development affected his ability to retrieve documents relevant to his defence, a situation he said could be verified by the state institutions involved. The court ordered the accused to file his witness statement by February 9, 2026.
Background
The case stems from the collapse of Menzgold Ghana Limited and its associated businesses, leading to the prosecution of Nana Appiah Mensah alongside other accused persons and two companies connected to the firm’s operations. According to the prosecution, the defendants face multiple criminal charges, including engaging in gold trading without a licence, operating an unauthorised deposit-taking business, inducement to invest, defrauding by false pretence, fraudulent breach of trust, and money laundering.
These charges arise from allegations that between 2016 and 2018, members of the public were persuaded to invest funds in gold transactions and related schemes through Menzgold.
The Securities and Exchange Commission later directed the suspension of the company’s gold trading activities for operating without the required licence, leading to the shutdown of the business and subsequent investigations, while NAM1 and the other accused persons have pleaded not guilty to the charges and are standing trial before the High Court.
Source: Joselyn Kafui Nyadzi
