The former Chief Executive of the National Petroleum Authority (NPA), Dr. Mustapha Abdul-Hamid, along with six others accused of allegedly conspiring to extort an amount of GH¢280.51 million from bulk oil transporters and oil marketing companies (OMCs), has been granted bail totalling GH₵14 million after pleading not guilty to charges filed by the Office of the Special Prosecutor (OSP).
At the court on Wednesday, July 23, 2025, Dr Abdul-Hamid, who is alleged to be the brain behind the scheme, pleaded not guilty to conspiracy to extort and use public office for profit.
He was granted bail in the sum of GH₵2 million with two sureties.
Two additional officials from the National Petroleum Authority (NPA), Jacob Kwamina Amuah, the Coordinator of the Unified Petroleum Pricing Fund (UPPF), and staff member Wendy Newman, also pleaded not guilty.
They were each granted bail set at GH₵2 million, requiring two sureties to be verified.
One of the sureties must be a public servant earning a minimum net salary of GH₵5,000, while the other must demonstrate ownership of land. All three accused individuals are mandated to check in with the authorities every two weeks.
In addition to the NPA officials, five executives from three companies implicated in the alleged money laundering activities have also faced charges.
Those charged include Albert Ankrah, Isaac Mensah, Bright Bediako-Mensah, and Kwaku Aboagye Acquaah, each granted bail of GH₵2 million, supported by three sureties, one of which must be verified with evidence of property ownership.
The Office of the Special Prosecutor (OSP) claims that between 2022 and December 2024, Dr. Abdul-Hamid, Amuah, and Newman devised a scheme that allegedly extorted GH₵280.51 million from bulk oil transporters and oil marketing companies (OMCs).
READ ALSO: OSP charges Mustapha Hamid, 9 others in GHC280m scandal
According to the charge sheet, Dr. Abdul-Hamid initiated this plan, passing it on to Amuah, who then engaged Newman as the main point of contact for gathering the illicit funds.
It’s claimed that Amuah transferred GH₵24 million to Dr. Abdul-Hamid from January to December 2024, believed to be part of the illicit earnings.
The OSP asserts that GH₵227.23 million of the overall amount was routed through Newman, who allocated the funds based on instructions from Amuah.
Further investigations revealed that Ankrah, Mensah, Bediako-Mensah, Acquaah, along another individual named Adjei conspired with Amuah and Newman to set up and run the three companies suspected of laundering the proceeds from this scheme.
The OSP alleges that these financial transactions were structured to obscure the unlawful origin of the funds and evade legal repercussions.
It is stated that the money was utilised for purchasing and constructing houses, acquiring oil distribution trucks, and establishing fuel filling stations.
All accused individuals are expected to return to the High Court on July 23 for further proceedings regarding their charges.
