Ghana News

Minerals Commission received royalties from the gold sales of my company – Nam 1


Tuesday saw a dramatic shift in the trial of Nana Appiah Mensah, the former CEO of the collapsed gold dealership company Menzgold, as his attorney vigorously contested the prosecution’s evidence.

Lawyer Kwame Akuffo contended that the prosecution’s assertion that his client traded gold without a license was missing key context. NAM 1, as Appiah Mensah is often known, is represented by Akuffo.


He said that the license made it possible for gold to be sold domestically and emphasized that the Minerals Commission collected royalties from these sales.

The defense attorney contested the prosecution’s use of precise dollar sums, including GH180 million and GH220 million, arguing that they did not prove guilt.

He said that these transactions may have instead included honest commercial negotiations, possibly even the formation of a bank in 2018.

He criticized the prosecution for failing to provide details on the timing of these payments and the existence of any criminality associated with them.

The defense pointed out that the prosecution had not offered any proof of a public notice connected to the alleged conduct when it came to the accusation of deceiving under false pretenses. The substance of the matter before the court was called into doubt by the absence of supporting paperwork.

The prosecution’s deputy attorney general responded to the defense’s claims by saying that they did not agree with how the defense attorney was interpreting the evidence.

He stated that the prosecution was not opposed to bail but urged the court to use his or her discretion in light of the significant quantities of money at stake.

According to the prosecution, count three of the accusations had a total value that exceeded GH1.6 billion. The prosecutor emphasized that the Circuit Court had previously justifiedly granted bail.

The prosecution suggested that NAM 1 (the accused) leave his passport in the court’s possession in order to eliminate any potential flight risk. The accused would be able to apply to the court under this arrangement each time he required a passport.

The court’s initial bail restrictions were modified by the prosecution by adding new factual requirements.

The accused was ordered to report to the Criminal Investigations Department (CID) headquarters every Thursday. The court granted bail for NAM 1 in the amount of GH 500 million with no rationale necessary.

The court case has been postponed until October 27, 2023, and it is anticipated that it will resume soon.




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