Alleged GH₵280m extortion scheme: Mustapha-Hamid, others plead not guilty, granted bail totalling GH₵14m
Former Chief Executive of the National Petroleum Authority (NPA), Dr Mustapha Abdul-Hamid, who has been accused of using his position to conspire with others to extort GH₵280.51 million from oil marketing companies, has pleaded not guilty to charges filed by the Office of the Special Prosecutor (OSP).
Appearing in court on Wednesday, July 23, Dr Abdul-Hamid, who is alleged to be the mastermind behind the scheme, pleaded not guilty to conspiracy to extort, extortion, and using public office for profit. He was granted bail in the sum of GH₵2 million with two sureties.
Two other NPA officials; Jacob Kwamina Amuah, Coordinator of the Unified Petroleum Pricing Fund (UPPF), and Wendy Newman, a staff member of the NPA, also pleaded not guilty and were granted bail in the sum of GH₵2 million each, with two sureties to be justified. One of the sureties must be a public servant earning a net salary of at least GH₵5,000, while the other must provide evidence of ownership of landed property. All three accused have been directed to report to the authorities once every two weeks.
In addition to the NPA officials, five executives of three companies accused of facilitating the alleged money laundering scheme have also been charged. They include Albert Ankrah, Isaac Mensah, Bright Bediako-Mensah, and Kwaku Aboagye Acquaah. Each of the accused has been granted bail in the sum of GH₵2 million, with three sureties, one of which must be justified with landed property.
The OSP alleges that between 2022 and December 2024, Dr Abdul-Hamid, Amuah, and Newman orchestrated a scheme to extort GH₵280.51 million from bulk oil transporters and oil marketing companies (OMCs). According to the charge sheet, the scheme was devised by Dr Abdul-Hamid, who introduced the plan to Amuah. Amuah, in turn, recruited Newman as the primary conduit for collecting the proceeds.
It is alleged that Amuah transferred GH₵24 million to Dr Abdul-Hamid between January and December 2024, believed to be part of the proceeds from the criminal enterprise. The OSP contends that GH₵227.23 million of the total sum was funnelled through Newman, who distributed the money based on Amuah’s instructions.
Investigations further revealed that Ankrah, Mensah, Bediako-Mensah, Acquaah, and another individual, Adjei, in collusion with Amuah and Newman, established and operated the three companies allegedly used to launder the proceeds of the scheme. According to the OSP, these transfers were designed to conceal or disguise the illicit origin of the funds and to avoid legal consequences. It stated that the funds were used for the purchase and construction of houses, procurement of oil distribution trucks, and establishment of fuel filling stations.
All the accused persons are scheduled to reappear before the High Court on July 23 for their pleas to be taken.
