Court orders NAM1 to file witness statement in Menzgold case
The High Court in Accra has ordered Nana Appiah Mensah, also known as NAM1, to file his witness statement by February 9, 2026, after striking out a motion seeking a stay of proceedings in the criminal case, in which he has been accused of using Menzgold Ghana Limited to engage in illegal gold trading business.
The order was issued by the court presided over by Justice Ernest Owusu-Dapaa following the withdrawal of the application filed on January 13, 2026.
The prosecution of Nana Appiah Mensah forms part of a multi-accused criminal trial involving other individuals and corporate entities arising from the activities 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the decision of the applicant to discontinue the substantive process and therefore prayed the court to strike it out as withdrawn.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 arises from the collapse of Menzgold Ghana Limited and related businesses, leading to the prosecution of Nana Appiah Mensah, together with other accused persons and two companies linked to the firm’s operations.
According to the prosecution, the accused persons face multiple criminal charges, including selling gold without a licence, operating a deposit-taking business without authorisation, inducement to invest, defrauding by false pretence, fraudulent breach of trust and money laundering, following allegations that between 2016 and 2018, members of the public were induced 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.
