GH₵1.3 Billion Embezzlement at NPA: Mustapha Abdul-Hamid Denies Corruption Allegations, Vows Cooperation with Investigators

Former Chief Executive Officer (CEO) of the National Petroleum Authority (NPA), Hon. Mustapha Abdul-Hamid, has refuted claims that he is under investigation for alleged embezzlement of funds from the Unified Petroleum Pricing Fund (UPPF).

He has, however, pledged his full cooperation should he be required to assist in any inquiry.

In a statement issued on social media, Abdul-Hamid stated that he had not received any official invitation or notification from any investigative body regarding the allegations.

“My attention has been drawn to an announcement by the Special Prosecutor, Mr. Kissi Agyebeng, that I am under investigation for some alleged embezzlement of funds at the Unified Petroleum Pricing Fund (UPPF) during my tenure as the Chief Executive of the National Petroleum Authority. As of this afternoon, I have neither received any invitation from any state investigative body nor have I been under investigation for any such alleged crime. However, I am willing to avail myself to assist in any investigations of the alleged embezzlement of funds,” he stated.

This comes after the Office of the Special Prosecutor (OSP) officially launched a probe into the suspected misappropriation of GH₵1.3 billion from the NPA.

Special Prosecutor Kissi Agyebeng, in a press briefing on Wednesday, February 12, disclosed that the investigation is centred on alleged corruption and financial misconduct within the UPPF.

The UPPF is a key mechanism designed to ensure uniform petroleum pricing across Ghana by subsidising transportation costs to remote locations. However, concerns have emerged regarding potential financial mismanagement within the fund, prompting the special prosecutor’s intervention.

Agyebeng revealed that four individuals have been identified as primary subjects of the investigation: Jacob Amoah, Coordinator of the Unified Petroleum Pricing Fund (UPPF); Wendy Ashong Newman, a staff member of the NPA; Freda Tandoh, also a staff member of the Authority; and former CEO Mustapha Abdul-Hamid.

“The OSP has commenced investigations into suspected corruption and corruption-related offences in respect of an alleged embezzlement of GH₵1.3 billion from the Unified Petroleum Pricing Fund (UPPF) at the National Petroleum Authority (NPA),” Agyebeng announced. “The investigation primarily targets Jacob Amoah, Wendy Ashong Newman, Freda Tandoh, and former CEO Mustapha Abdul-Hamid.”

Abdul-Hamid served as CEO of the NPA from 2021 until early 2024. Under his leadership, the Authority was responsible for regulating petroleum pricing, maintaining fuel quality standards, and managing the UPPF. Now, with the fund at the centre of a major corruption probe, questions have been raised about financial oversight within the NPA during his tenure.

As the investigation unfolds, the former NPA CEO’s commitment to cooperating with authorities will likely be closely watched, as the OSP seeks to uncover the truth behind the alleged misappropriation of funds.

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