Former Chief Executive of the National Petroleum Authority (NPA), Dr. Mustapha Abdul-Hamid, has been granted bail to the tune of GH¢2 million following his implication in a massive corruption case involving alleged extortion and money laundering totalling GH¢280 million.
The Office of the Special Prosecutor (OSP), which is spearheading the prosecution, named Dr. Abdul-Hamid as the lead figure in what it describes as an elaborate scheme to siphon money from petroleum sector operators between 2022 and 2024.
The charges, which span 25 counts, include extortion, conspiracy, and money laundering.
Dr. Abdul-Hamid’s bail conditions require two sureties earning at least GH¢5,000 monthly, and he must report bi-weekly to the OSP as investigations continue.
Two of his co-accused—Jacob Kwamena Amuah, Coordinator of the Unified Petroleum Pricing Fund, and Wendy Newman, a staff member of the NPA—were also granted bail under the same terms.
Four other accused persons—Albert Ankrah, Isaac Mensah, Bright Bediako-Mensah, and Kwaku Aboagye Acquah—were also granted GH¢2 million bail each, though they must each produce three sureties, with one backed by immovable property.
They are also required to report every two weeks to the OSP.
Investigators allege the accused exploited their positions to extort funds from Oil Marketing Companies (OMCs) and Bulk Oil Distribution Companies (BDCs), disguising the scheme as legitimate regulatory processes.
The illicit proceeds were reportedly channelled into luxury properties, high-end vehicles, and fuel stations.
Amuah is alleged to have transferred GH¢24 million to Abdul-Hamid, while Newman reportedly handled over GH¢227 million on his behalf.
Investigations also implicate three companies—Propnest Ltd., Kel Logistics Ltd., and Kings Energy Ltd.—as vehicles used to launder the stolen funds. One company executive is currently on the run.
Dr. Abdul-Hamid, however, maintains his innocence. In a statement released by his legal team, he dismissed the allegations as unfounded and politically motivated.
His lawyers noted that he had not yet been formally charged before any court and questioned the shifting narrative from earlier claims of procurement breaches to the current charges.
The high-profile trial has been adjourned to August 26, 2025, when substantive hearings are expected to commence.
The OSP says it remains committed to unraveling corruption networks in key state institutions, with the petroleum sector now firmly in its crosshairs.
Source: Starrfm.com.gh
