The Office of the Special Prosecutor (OSP) has seized assets valued at more than GH¢100 million and US$100,000 as part of investigations into an alleged large-scale extortion and money-laundering scheme in the petroleum sector.
According to the OSP, the suspected scheme caused losses of over GH¢291 million and US$330,000 to the State and the petroleum industry. Investigators have begun tracing additional properties believed to be linked to the case.
Former Chief Executive Officer of the National Petroleum Authority (NPA), Dr. Mustapha Abdul-Hamid, is currently facing trial before the Criminal High Court in Accra on multiple counts of corruption and related offences.
He has been charged with conspiracy to commit extortion by a public officer, alongside two NPA officials, for allegedly plotting to extort GH¢291,574,087.19 and US$332,407.47 from bulk oil transporters and oil marketing companies between December 2022 and December 2024.
The former NPA boss also faces two counts of extortion by a public officer for allegedly receiving GH¢24 million and GH¢230,000 from oil transporters and haulage companies under the pretext of official duties.
He has further been charged with two counts of using public office for profit, accused of abusing his position for personal enrichment, as well as money laundering, for allegedly possessing GH¢15,343,251.29 suspected to be proceeds of crime disproportionate to his legitimate income.
The OSP said the asset seizures were backed by strong documentary, banking, and transactional evidence connecting the accused to the alleged offences. It added that further investigations are ongoing to uncover additional assets believed to have been obtained through illicit means.
Meanwhile, Dr. Abdul-Hamid has dismissed the charges in a viral video circulating on social media, describing the ongoing proceedings as “useless” and politically motivated.
The OSP, however, maintains that the charges are supported by extensive evidence of corruption and financial misconduct, reaffirming its resolve to uphold transparency, accountability, and integrity within the petroleum sector.
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