OSP Seizes Over GHS 100m Assets in NPA Extortion and Money Laundering Probe
The Office of the Special Prosecutor (OSP) has seized assets valued at more than GH¢100 million and US$100,000 in connection with its ongoing probe into an alleged grand extortion and money-laundering scheme involving the National Petroleum Authority (NPA).
The investigation centres on former NPA Chief Executive, Dr. Mustapha Abdul-Hamid, and six others, accused of orchestrating large-scale financial crimes that the OSP says resulted in losses exceeding GH¢291 million and over US$330,000 to the State and the petroleum downstream sector. Additional assets are currently being traced by the investigative team.
Dr. Abdul-Hamid, who is the first accused, is among seven individuals and three corporate entities charged with corruption-related offences, including extortion, abuse of office, and money laundering, allegedly committed between 2022 and 2024.
According to court documents, the charges include conspiracy to commit extortion by a public officer, jointly with 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. Two separate counts of extortion also cite the unlawful receipt of GH¢24 million and GH¢230,000 from oil transporters and haulage firms under the guise of official duties.
In addition, Dr. Abdul-Hamid faces two counts of using public office for profit, allegedly enriching himself through the misuse of his position, and one count of money laundering involving GH¢15,343,251.29 suspected to be proceeds of crime.
The OSP, in a statement dated Tuesday, November 4, said the asset seizures were supported by strong documentary, banking, and transactional evidence linking the accused persons to the alleged offences. It noted that additional properties suspected to have been acquired through illicit means are under active tracing.
Meanwhile, Dr. Abdul-Hamid has rejected the allegations, describing the criminal proceedings as “useless” and politically motivated in a video circulating on social media.
