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0 The Court of Appeal has dismissed an application for a stay of proceedings filed by Nana Appiah Mensah, CEO of defunct Menzgold Ghana Limited, over his ongoing criminal trial at the High Court.
NAM1, as he is popularly known, had filed the application after the High Court on July 11, 2024, ordered him to open his defence in a case involving the alleged misappropriation of over GH¢1.6 billion in customer funds. His first request for a stay was denied by the trial judge, Justice Ernest Owusu Dapaah, prompting him to appeal to the higher court.
On Monday, May 19, 2025, a three-member panel of the Court of Appeal, led by Justice Gbiel S. Suurbaareh, upheld the trial court’s decision, ruling that NAM1 had failed to demonstrate any exceptional circumstances that would warrant halting the case.
“He was unable to raise any exceptional circumstances for the court to exercise its discretion in his favour,” the panel stated.
The panel, which also included Justices Afia Serwah Asare-Botwe and Christopher Archer, unanimously dismissed the application. NAM1’s legal team, led by Kwame Boafo Akuffo, argued the motion, which was opposed by prosecutor Watkins Adamah.
The High Court trial will now proceed on May 28, 2025. Meanwhile, NAM1, who spoke to the media after the ruling, indicated that there would be further action.
It doesn’t end here. We still have the Supreme Court, so we will exercise all our rights enshrined under the Constitution. So, I will confer with my lawyers, and whatever as they so advice we will see”.
Background
NAM1 is standing trial alongside his two companies—Menzgold Ghana Limited and Brew Marketing Consult Limited—on 39 charges, including defrauding by false pretence, money laundering, and operating an unlicensed deposit-taking business.
The prosecution alleges that between 2016 and 2018, NAM1 and his firms took deposits under the guise of gold trading, attracting over 16,000 customers. Investigations found that funds were misappropriated and diverted to related entities and personal accounts.
