Following his arraignment in a GH¢280 million extortion and money laundering case brought by the Office of the Special Prosecutor (OSP), Dr. Mustapha Abdul-Hamid, the former CEO of the National Petroleum Authority (NPA), was granted bail in the amount of GH¢2 million.
Dr. Abdul-Hamid must provide two sureties who each make at least GH¢5,000 per month in order to meet the bail requirements.
The sums need to be explained. As investigations proceed, he must also report to the OSP every two weeks.
Ten people and business entities are charged with masterminding a massive corruption plan in the petroleum industry between 2022 and 2024, and Dr. Abdul-Hamid is the first accused in this well-known case.
Wendy Newman, an NPA employee, and Jacob Kwamena Amuah, Coordinator of the Unified Petroleum Pricing Fund, were also given bail under the same conditions. All three have entered not guilty pleas to charges that include money laundering, extortion by a public official, conspiracy to commit extortion, and using public office for financial gain.
Additionally, GH¢2 million in bail has been granted to four other people: Albert Ankrah, Isaac Mensah, Bright Bediako-Mensah, and Kwaku Aboagye Acquah.
Three sureties are needed to meet their bail requirements, though, and at least one of them needs to be backed by landed property. Additionally, they must submit biweekly reports to the OSP.
The defendants are accused of profiting from a coordinated scheme that targeted Bulk Oil Distribution Companies (BDCs) and Oil Marketing Companies (OMCs), purportedly laundering proceeds through the acquisition of upscale cars, real estate, and gas stations.
Due to the high level of public interest in the case, it has been postponed until August 26, 2025, when formal hearings are anticipated to start.
