The High Court in Adentan, Accra, has ordered the immediate unfreezing of bank accounts belonging to Sesi-Edem Company Limited, delivering a major legal victory for the company and its founder, Gabriel Tanko Kwamigah-Atokple, while sharply criticising the conduct of the Economic and Organised Crime Office (EOCO).
The ruling, delivered on Thursday, March 19, 2026, brings closure to months of uncertainty after EOCO froze the company’s accounts in November and December 2025 following a petition by JG Resources Ltd. An ex parte court order in January 2026 later confirmed the freeze, intensifying public scrutiny of the case.
In its judgment, the Court concluded that EOCO had acted beyond its legal mandate. It determined that the dispute between Sesi-Edem and JG Resources stemmed from a private commercial agreement and did not involve fraud or money laundering. As such, the matter was purely contractual and should have been handled through civil legal channels rather than criminal investigation.
The Court further noted that the Sale and Purchase Agreement at the centre of the dispute was still within its delivery period, meaning Sesi-Edem had not breached the contract. Any disagreements over timelines, the judge said, must be resolved in civil court.
On the question of licensing, the Court found that Sesi-Edem was legally authorised to trade in gold at the time of the transaction. The company had operated under transitional directives from the Ghana Gold Board that allowed licensed dealers to continue business while new regulatory arrangements were being implemented. Therefore, the Court ruled that the company made no false representations regarding its legal status.
The judgment also delivered a strong rebuke to EOCO’s handling of the case. The agency failed to secure judicial approval for its initial freezing order within the legally required 14-day period. Instead, it issued a second order without informing the Court of the first and later sought confirmation through an ex parte process, denying the company an opportunity to respond.
According to the Court, this procedure rendered the second order invalid and made the prolonged freezing of the accounts unlawful. The judge described EOCO’s actions as an abuse of power and emphasised that state investigative bodies must operate strictly within the law.
The Court also warned against the misuse of state institutions to pursue private business disputes, rejecting the petition that triggered the investigation as baseless.
The ruling comes in the wake of separate court orders obtained by Sesi-Edem in December 2025 to protect funds allegedly acquired from Turkish investors through a forged agreement that falsely used the company’s name. In that arrangement, JG Resources was reportedly designated as the receiving facilitator.
For Sesi-Edem and its founder, the decision marks a decisive vindication after weeks of reputational damage and financial disruption. The company’s legal team, Knightschild Chambers, was credited with playing a key role in securing the favourable outcome.
