Mustapha Abdul-Hamid denies all OSP charges
The former Chief Executive of the National Petroleum Authority (NPA), Dr Mustapha Abdul-Hamid, has denied accusations that he used his position to conspire with others to extort GH₵280.51 million from oil marketing companies.
Reacting to charges filed by the Office of the Special Prosecutor (OSP), Dr Abdul-Hamid, through his lawyers, said he was ready to vigorously contest what the lawyers describe as unsubstantiated allegations.
In a statement signed by Dr Abdul-Hamid’s lawyer, Hanifa Yahaya of HAY & Partners, it said that when the former NPA boss assumed office in 2021, he rather grew the funds he was alleged to have siphoned significantly by the time he exited office last year.
The lawyers said the Unified Petroleum Pricing Fund (UPPF) grew from GH₵53.2 million in 2021 to GH¢1.14 billion by December 2024, while the Price Differential Margin account recovered from a negative GH¢18.4 million to a positive GH¢470.6 million over the same period.
"Our client served the nation with utmost integrity and competence," stated lawyer Hanifa Yahaya, citing widespread industry recognition of Dr Abdul-Hamid's leadership.
Counsel stated that these financial improvements contradicted allegations of misconduct.
Charges
The OSP on July 16 this year filed criminal charges at the High Court, accusing Dr Abdul-Hamid of conspiring with two other officials of the NPA to extort GH¢280.51 million from oil marketing companies.
Charged alongside the former NPA Boss were seven other individuals and three companies for their various roles in the alleged extortion and money laundering scheme.
They are Jacob Kwamina Amuah, Coordinator of the Unified Petroleum Pricing Fund (UPPF); Wendy Newman, NPA staff; Albert Ankrah, Director, Kel Logistics Limited; Isaac Mensah, Director, Kel Logistics Limited; Bright Bediako-Mensah, Director, Kel Logistics and Kings Energy Limited; and Kwaku Aboagye Acquaah, Director, Kings Energy Limited.
The three companies are Propnest Limited, Kel Logistics Limited and Kings Energy Limited.
Allegations
The OSP alleged that between 2022 and December 2024, Dr Abdul-Hamid, Amuah and a staff member of the audit department of the NPA, Newman, set up a scheme to extort GH¢280.51 million from bulk oil transporters and OMCs.
The scheme, according to the OSP, was contrived by Dr Abdul-Hamid, who allegedly sold the idea of the criminal adventure to Amuah, who also recruited Newman as the primary conduit for receiving the proceeds of the alleged crime.
Amuah is alleged to have transferred GH¢24 million to Abdul-Hamid between January 2024 to December 2024 – all alleged to be proceeds of what the OSP described as a criminal extortion scheme.
Out of the GH¢280.51 million received by Dr Abdul-Hamid, Amuah and Newman, the OSP alleged that GH¢227.23 million was paid through Newman, who allegedly distributed it on the instruction of Amuah.
According to the OSP, investigations revealed that Ankrah, Mensah, Bediako-Mensah and Acquah, as well as Adjei, with the complicity of Amuah and Newman, established and ran the three companies with which they proceeded to unlawfully launder the proceeds of the alleged criminal adventure of the top three accused persons through various transfers for the acquisition of movable and immovable property.
