Menzgold’s ,Nana Appiah Mensah told an Accra High Court that he did have the necessary licences to operate his gold business through one of his companies, A2.
He claims that the company was properly incorporated and licensed to engage in gold mining, gold purchasing, value addition and export before it was closed down by the authorities.
Nana Appiah Mensah’s defence claims that te company (A2) had valid approvals from the relevant bodies, initially the Precious Minerals Marketing Company (PMMC) and later the Minerals Commission, and that all required fees and paperwork were completed before licences were issued.
The businessman, popularly known as NAM1, said he would attempt to produce documentary evidence of these licences at the next hearing, explaining that some records were hard to access after his offices were taken over by the Securities and Exchange Commission (SEC) and the Economic and Organised Crime Office (EOCO).
NAM1 is currently facing a 39-count indictment that includes, selling gold without a licence, fraudulent breach of trust, defrauding by false pretences and money laundering.
These charges relate to alleged use of his companies to defraud investors and members of the public of significant sums.
The Court has directed NAM1 to file his witness statement ahead of the next hearing, which has been adjourned to February 19, 2026.
The Menzgold saga stems from the collapse of the now-defunct Menzgold Ghana Limited, originally branded as a gold dealership and investment firm — which was shut down by Ghanaian regulators amid accusations of running a fraudulent deposit-taking operation and offering unrealistic returns.
NAM1 and his companies have been entangled in legal battles for several years, with courts previously ruling that he has “a case to answer” and ordering him to open his defence after dismissing a “no case” application. The trial continues as he prepares to present documentary evidence and his witness statement in his defence.
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