Accused businessman Nana Appiah Mensah, widely known as NAM1, has informed the Accra High Court that his gold business operated under a valid licence, directly challenging a central argument in the criminal proceedings against him.
Mensah appeared before the High Court in Accra as part of the State’s prosecution in a case involving allegations linked to his gold trading and related financial business. The charges against him include counts of unlawful operation of a gold business and associated offences, which the prosecution alleges were committed in breach of Ghana’s mining and trading laws.
In his testimony, NAM1 stated that the gold trading operation in question held a valid licence issued by the relevant regulatory authority. His submission aimed to counter the prosecution’s suggestion that the business conducted activities outside the scope of legal authorisation.
Prosecutors have argued that certain aspects of the operation, particularly those involving the purchase and sale of gold through unlicensed centres, were criminal in nature and deprived the State of proper oversight. Conversely, the defence presented documents indicating that the business had applied for and been granted requisite approvals to engage in gold trade, maintenance, and other associated services.
Further submissions in court focused on technical aspects of licensing requirements under the Minerals and Mining Act, 2006 (Act 703), and related regulations governing the sale, purchase, and export of gold and precious minerals. Defence counsel emphasised that lines of authority and regulatory oversight between the Ghana Minerals Commission and other agencies needed careful interpretation in determining the lawfulness of the accused’s enterprise.
During proceedings, the court also reviewed evidence relating to transactions and business structures used by NAM1’s company. The defence maintained that all necessary fees had been paid and compliance measures adhered to in securing and maintaining the licence.
The prosecution, however, contended that even if certain licences were secured, some business activities extended beyond what was legally permissible, and argued that the court should carefully consider the scope of any authorisations granted.
The judge did not deliver a final ruling during the hearing but indicated that the court would examine documentary and testimonial evidence relating to the validity and scope of the licence in reaching its judgment. No date for a verdict has been announced at the time of this report.
The case has attracted significant public interest due to the high profile of the accused and the implications for regulatory oversight of precious minerals trading in Ghana. Ghanaian law mandates that businesses engaging in the purchase and sale of gold must be properly licensed and adhere strictly to anti-money laundering and minerals governance frameworks.