Cheddar told to pay over US$14.9m debt as High Court enforces UK judgment order

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Makay
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Nana Kwame Bediako

Nana Kwame Bediako, popularly known as Cheddar, has been told to pay over US$14.9 million plus interest and costs to Cola Holdings Limited, a UK-based company.

This follows the High Court (Commercial Division) in Accra, which has enforced a judgment issued by the High Court of England and Wales.

Reports suggest the foreign judgment was formally registered in Ghana on May 20, 2025, after the application by Cola Holdings Limited to have the English court’s decision documented and enforced locally.

The Ghana Chronicles in a post on X stated, “BREAKING: An Accra High Court has ordered Nana Kwame Bediako, popularly known as Cheddar, to settle an unpaid loan following the enforcement of a UK court judgment.

The debt, owed to UK-based Cola Holdings Limited, exceeds US$14.9 million. With accrued interest and costs, the total liability is estimated at GH₵258.76 million”.

Reports from citinews which provided more details read, “The case, filed at the High Court’s Commercial Division in Accra, stems from a judgment originally delivered by Deputy Master Sabic KC of the High Court of England and Wales on January 23, 2025, with subsequent variations granted in March and April 2025. Once registered, the judgment became legally binding and enforceable in Ghana.

The court has ordered Nana Kwame Bediako to pay US$14,928,314.70 as the principal judgment debt, together with interest at a rate of eight percent per annum, calculated from January 23, 2025, until full payment is made. As of December 23, 2025, the accrued interest alone amounted to US$1,092,834.64”.

“In addition, the court awarded GH₵15,000 in legal costs to Cola Holdings Limited.

At the prevailing Treasury exchange rate of GH₵16.15 to the US dollar, the total amount due, including interest and costs, translates to approximately GH₵258.76 million, according to figures contained in the court notice.

The total sum remains subject to further increase as interest continues to accrue until the debt is fully settled.

The court also granted an order for substituted service, allowing the judgment to be served by posting copies at the respondent’s residence at 13 Avenue Lincoln, Osu, at the High Court notice board, and through a one-time publication in the Daily Graphic. The notices are to remain posted for seven days”, the report concluded.

Some netizens reacting to the news wrote, “So like wanna money he wan take pay loan or what”.

“Imagine if your man won the presidency. yie yie yie yie”, another X user added.

“All makes sense for his desperate attempt to be a president during the last elections the whole country would have been used as collateral”, a netizen added.

One more netizen added, “When u go through the comment section u will realise that a lot of people are foolish and stupid. They just believed what this foolish blogger posted without asking for evidence.

Someone spent over $10m on the campaign, and u are saying he can’t pay a loan of $14m? Let’s be serious”.

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