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OSP Uncovers Massive GHS280.5M Extortion Scheme Involving Oil Companies

OSP Uncovers Massive GHS280.5M Extortion Scheme Involving Oil Companies

A major corruption scandal has erupted in Ghana’s petroleum sector as the Office of the Special Prosecutor (OSP) drags former National Petroleum Authority (NPA) CEO, Mustapha Abdul-Hamid, along with six other officials and three corporate entities, before the High Court over a suspected GHS280.5 million criminal enterprise.

The OSP, following an in-depth probe launched in late 2024, has filed 25 charges in total, including extortion and money laundering. The accused are believed to have exploited their roles at the NPA to illegally extract funds from petroleum transporters and oil marketing companies between 2022 and December 2024.

Leading the alleged scheme were Mustapha Abdul-Hamid, Jacob Kwamina Amuah—Coordinator of the Unified Petroleum Pricing Fund (UPPF) and Managing Director of three implicated firms—and Wendy Newman, also a staff member of the Authority. The trio reportedly coordinated what authorities describe as a structured extortion ring, operating under the guise of official duty but without any lawful authority.

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According to the OSP’s findings, Amuah is said to have transferred over GHS24 million directly to Abdul-Hamid over the course of 2024. Additionally, a massive GHS227.2 million was allegedly funnelled through Wendy Newman at Amuah’s direction, to be distributed in ways that concealed its origin and beneficiaries.

The scandal goes beyond individuals. Three companies—Propnest Limited, Kel Logistics Limited, and Kings Energy Limited—are also in the crosshairs. Investigators allege that these entities were used to launder proceeds of the illegal operations. Four individuals—Albert Ankrah, Isaac Mensah, Bright Bediako-Mensah, and Kwaku Aboagye Acquaah—are believed to have played key roles in setting up these companies specifically to conceal the illicit flow of money. Another suspect, Osei Tutu Adjei, named as a director of Kel Logistics Limited, is reportedly on the run.

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According to the OSP, the funds obtained from the scheme were used to purchase assets including residential properties, commercial trucks for petroleum distribution, and the construction of fuel stations—activities designed to disguise the criminal origin of the money.

The charges filed include Extortion by a Public Officer under Section 151 of the Criminal Offences Act, 1960 (Act 29); Conspiracy to Commit Money Laundering, in violation of Section 23 of Act 29 and multiple provisions of the Anti-Money Laundering Act, 2020 (Act 1044); as well as substantive charges of Money Laundering.

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All seven individuals and the implicated companies are currently in custody, with a court date pending for them to formally respond to the charges.

The OSP, in a statement signed by its Director of Strategy, Research & Communication, Samuel Appiah Darko, reaffirmed its resolve to tackle corruption at all levels of public service. The statement also urged government institutions to remain alert and report any suspicious activity to support the national fight against graft.

 

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