By Issah Olegor
The Accra High Court has delivered a major ruling in favor of prominent businessman Nana Yaw Duodu, popularly known as Dr. Sledge, and his company, Goldridge Refinery Limited, dismissing allegations of corruption and misappropriation that had been leveled against them by the Office of the Special Prosecutor (OSP).
The decision was handed down on January 29, 2026, by Justice Samuel D. Kotey of the Finance and Economic Crime Division 2.
Judicial Findings
In a thorough 10-page judgment, Justice Kotey concluded that the OSP, headed by Kissi Agyebeng had failed to provide any substantive evidence linking Dr. Sledge, Goldridge Refinery, or other respondents to corruption or financial misappropriation.
The court specifically noted that the OSP was unable to establish a connection between funds deposited by the Minerals Income Investment Fund (MIIF) into Goldridge’s account at Fidelity Bank and the assets seized by the anti-corruption body.
The ruling emphasized that the respondents are private individuals and that the OSP did not identify any public officer involved in any alleged wrongdoing, a necessary component for proving corruption under Ghanaian law.
The court further observed that the actions of the OSP appeared to be aimed at enforcing contractual commitments by Goldridge Refinery to MIIF, rather than addressing criminal misconduct.
Dismissal of Asset Freeze
The High Court dismissed the OSP’s application seeking judicial confirmation of the freeze on various properties belonging to Dr. Sledge and family members, which had been seized earlier as part of the investigation.
Among the assets involved were luxury vehicles, jewellery, and personal effects.
The court’s decision effectively lifts any pending legal barriers preventing the respondents from accessing their property.
Background
The legal dispute traces back to the OSP’s investigation into Dr. Sledge and Goldridge Refinery in connection with the gold-for-forex and gold-for-oil programmes.
These initiatives, spearheaded by MIIF, were designed to stabilise the cedi, reduce reliance on imported fuel, and leverage the mineral wealth for strategic economic purposes.
Dr. Sledge, one of the country’s leading indigenous gold exporters, has been a high-profile figure in both business and political circles. His company, Goldridge Refinery, was intended to play a key role in refining gold domestically and facilitating government barter trade programmes.
However, the OSP had argued that Goldridge’s actions contributed to financial risks for the state, prompting the seizure of assets during its probe.
Legal Representation And Arguments
Dr. Sledge and Goldridge Refinery were represented by Alex Kofi Osei-Owusu of Cardinal Law Group, while other respondents had separate counsel, including JB Dankwah and Eddie McCarthy.
The defence argued that the OSP’s attempt to freeze assets amounted to enforcement of contractual disputes rather than a valid criminal investigation.
Justice Kotey’s ruling ultimately agreed, citing the lack of evidence connecting the seized assets to any criminal act.
Implications
The judgment represents a significant setback for the OSP in its high-profile efforts to investigate alleged corruption in the mineral sector.
While it does not halt ongoing investigations into Dr. Sledge or Goldridge, it clarifies that seizure of private property must be backed by clear evidence of criminal wrongdoing, and that contractual obligations alone do not justify anti-corruption enforcement measures.
