In a shocking development from another big corruption exposé, former National Petroleum Authority (NPA) Chief Executive, Dr. Mustapha Abdul-Hamid, and his alleged cohorts have been granted GH¢2 million bail each in the colossal GH¢280 million extortion and money laundering case spearheaded by the Office of the Special Prosecutor (OSP).
The decision, handed down today, sees Dr. Abdul-Hamid—who stands as the prime accused—freed under strict conditions. He must provide two sureties, each earning a net monthly salary of at least GH¢5,000, with their income sources fully justified. On top of that, he’s required to report to the OSP every two weeks as investigations and court proceedings rumble on.
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Also walking out on the same hefty bail terms are Jacob Kwamena Amuah, Coordinator of the Unified Petroleum Pricing Fund (UPPF) and Managing Director of Propnest, Kel Logistics, and Kings Energy, as well as Wendy Newman, a staff member at the NPA.
All three have pleaded not guilty to a raft of serious charges, including conspiracy to commit extortion, extortion by a public officer, use of public office for profit, and money laundering.
Four other individuals implicated in the alleged scheme—Albert Ankrah, Isaac Mensah, Bright Bediako-Mensah, and Kwaku Aboagye Acquah—have similarly been granted GH¢2 million bail each.
Their conditions are slightly different, requiring them to present three sureties, with at least one supporting their bond with landed property. Like the others, they’ll be reporting to the OSP every fortnight.
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The accused are alleged to have been part of a meticulously coordinated scheme that extorted Oil Marketing Companies (OMCs) and Bulk Oil Distribution Companies (BDCs).
The ill-gotten gains, according to the OSP, were then laundered through a sophisticated network of luxury real estate acquisitions, the purchase of fuel stations, and the procurement of trucks for oil distribution.
A detailed statement from the OSP laid bare their findings, describing a “sophisticated operation” allegedly led by Abdul-Hamid, Amuah, and Newman. They are accused of leveraging their positions at the NPA to solicit and collect unlawful payments from petroleum transporters and marketers.
The OSP’s bombshell revelation includes claims that between January and December 2024, Amuah personally handed GH¢24 million to Abdul-Hamid. A staggering GH¢227.2 million was allegedly funneled through Newman under Amuah’s instructions for further disbursement.
The remaining accused individuals are believed to have played crucial roles in laundering these proceeds. Companies like Propnest Limited, Kel Logistics Limited, and Kings Energy Limited are specifically named by the OSP as instrumental in concealing the illicit funds, and they too face charges alongside the seven individuals.
In total, ten accused parties—seven individuals and three companies—are staring down 25 counts, including extortion by a public officer under the Criminal Offences Act, and various counts of conspiracy to commit and actual money laundering under the Anti-Money Laundering Act, 2020 (Act 1044).
One key suspect, Osei Tutu Adjei, a director of Kel Logistics Limited, remains on the run and is currently being pursued by law enforcement.
This high-profile case, which has gripped public attention, is set for its next hearing on August 26, 2025, when substantive proceedings are expected to kick off. The nation watches keenly as justice seeks to unravel one of Ghana’s most audacious alleged financial crimes.