Former NPA CEO and Staff Under Investigation for Alleged GH¢1.3bn Fraud

The Office of the Special Prosecutor (OSP) has officially launched an investigation into the alleged embezzlement of GH¢1.3 billion from the National Petroleum Authority (NPA), focusing on suspected corruption involving the Unified Petroleum Pricing Fund (UPPF).

During a press conference on February 12, Special Prosecutor Kissi Agyebeng announced the initiation of the inquiry, which targets multiple individuals within the NPA, including the former Chief Executive Officer, Dr. Mustapha Abdul-Hamid, as well as current staff members Jacob Amoah, Wendy Ashong Newman, and Freda Tandoh.

The UPPF, which is designed to stabilize petroleum prices across Ghana, has been at the center of the investigation.

The funds, meant to ensure price stability in the country’s petroleum sector, are alleged to have been misappropriated, raising serious concerns about corruption within the NPA.

Agyebeng stated that the OSP’s investigation will primarily focus on the activities of the key individuals named, who are suspected of playing significant roles in the alleged financial misconduct.

Jacob Amoah, the Coordinator of the UPPF, and other staff members at the NPA are being questioned for their involvement in the potential mismanagement of the funds.

The former NPA CEO, Mustapha Abdul-Hamid, who oversaw the authority during the time the alleged embezzlement occurred, is also a key figure in the inquiry.

The OSP has emphasized that the investigation will seek to uncover any evidence of corruption, misappropriation, or any related criminal activities that may have contributed to the massive loss.

This investigation comes amid increasing public concerns over financial mismanagement and corruption within state institutions.

The OSP’s swift action in launching the inquiry signals its commitment to addressing corruption within the country’s public sector.

If the investigation proves the allegations to be true, those responsible for the embezzlement could face severe penalties, including imprisonment and financial restitution.

The OSP has assured the public that it will continue to investigate thoroughly and take the necessary legal actions to bring those involved to justice.