Dr. Mustapha Abdul-Hamid, the former Chief Executive Officer of the National Petroleum Authority (NPA), has been granted bail of GH¢2 million by the Accra High Court during his court appearance on July 23, 2025. He pleaded not guilty to all charges related to an alleged extortion and money laundering scheme, as outlined by the Office of the Special Prosecutor (OSP).
The allegations involve a total of GH¢280 million and implicate Dr. Abdul-Hamid along with six others and three companies in a scheme that reportedly occurred between December 2022 and December 2024. The OSP’s charge sheet, filed on July 16, 2025, includes 25 counts, such as conspiracy to commit extortion by a public officer and money laundering.
Investigations revealed that the accused used their positions to extort funds from bulk oil transporters and oil marketing companies without lawful authority. The illicit funds were allegedly laundered through three companies—Propnest Limited, Kel Logistics Limited, and Kings Energy Limited—connected to some of the accused.
The OSP claims that the money was utilized for purchasing properties, acquiring trucks for oil distribution, and constructing fuel stations to conceal the proceeds of the alleged crimes. The case has been adjourned, with further proceedings anticipated in the coming weeks.