Dr. Mustapha Abdul-Hamid, former Chief Executive of the National Petroleum Authority (NPA), has denied any involvement in an alleged extortion scheme amounting to GHS280 million, following a front-page report by the Daily Graphic and a press release from the Office of the Special Prosecutor (OSP).
In a statement issued by his legal representatives, Dr. Hamid refuted all claims suggesting he masterminded or benefited from any such scheme. “As at the time of issuing this press statement, our client has not been charged before any court of competent jurisdiction,” the statement clarified, noting that no charge sheet had yet been received.
Dr. Hamid expressed readiness to challenge the accusations in court, describing the claims as defamatory and inconsistent. His legal team referenced prior allegations by the OSP from February 2025, where he was accused of embezzling GHS1.3 billion from the Unified Petroleum Pricing Fund (UPPF). A formal retraction requested by Dr. Hamid following that claim was never issued.
The narrative surrounding the investigation has shifted multiple times — from alleged embezzlement to procurement breaches, and now, to extortion. His lawyers questioned the changing allegations and figures, pointing out that the amount has dropped from GHS1.3 billion to GHS280 million and that the supposed victims remain unnamed.
The OSP claims Dr. Hamid received GHS24 million directly. However, he has categorically denied receiving any personal benefit, directly or indirectly, from any extortion scheme.
According to financial records cited by his team, Dr. Hamid oversaw significant growth in NPA funds across multiple accounts during his tenure. For instance, the UPPF account reportedly grew from GHS53 million in 2021 to over GHS1.1 billion by the end of 2024. Similar growth was recorded across other operational accounts, signaling what his team describes as a period of “unprecedented financial growth.”
Dr. Hamid maintains that his track record at the NPA and in public service has been marked by integrity and competence. He has pledged full cooperation with legal proceedings and expressed confidence that the facts will clear his name.
