OSP Probes Ex-NPA Boss Mustapha Hamid Over GH¢1.3bn Fraud
Special Prosecutor Targets Ex-NPA CEO and Three Others Over Alleged Mismanagement of Petroleum Stabilization Funds
- OSP investigates alleged GH¢1.3bn embezzlement from the Unified Petroleum Pricing Fund (UPPF)
- Probe targets former NPA CEO Mustapha Abdul-Hamid and three other officials
- Funds were meant to stabilize petroleum prices across Ghana
The Office of the Special Prosecutor (OSP) has officially launched an investigation into the alleged embezzlement of GH¢1.3 billion from the Unified Petroleum Pricing Fund (UPPF) under the National Petroleum Authority (NPA).
Special Prosecutor Kissi Agyebeng, at a press conference on Wednesday, February 12, revealed that the investigation focuses on suspected corruption and corruption-related offenses linked to the mismanagement of funds intended to stabilize petroleum prices nationwide.
The probe primarily targets four individuals: Jacob Amoah, the UPPF Coordinator; Wendy Ashong Newman; Freda Tandoh; and former NPA Chief Executive Officer, Mustapha Abdul-Hamid.
“The OSP has commenced investigations into suspected corruption and corruption-related offenses in respect of an alleged embezzlement of GH¢1.3 billion from the Unified Petroleum Pricing Fund (UPPF) at the National Petroleum Authority (NPA),” Agyebeng stated.
Mustapha Abdul-Hamid, who was appointed as NPA CEO in 2021 and served until early 2024, oversaw the regulation of petroleum product pricing, fuel quality standards, and UPPF management during his tenure.
The investigation seeks to uncover the circumstances surrounding the alleged misappropriation of funds and bring culpable parties to justice.
