The Herald’s investigations into the alleged GH₵1.3 billion embezzlementat theUnifiedPetroleum Price Fund (UPPF), indicate that the claims against past and present National Petroleum Authority (NPA) officials are unreliable.

Contrary to initial reports in the media, documents reviewed by The Herald, show that the actual amount collected between June 2023 and September 2024, is just over GH₵110 million, not the GH₵1.3 billion being speculated, and captured by the Special Prosecutor Kissi Agyebeng at his last news conference.

Firstly, The Herald, has cited documents that reveal the GH₵110 million in question, belongs to the Tanker Owners Union, not the state.

Secondly, the GH₵110 million, can be traced to Access Bank—Tema Main Branch, with account number 0020100129161, owned by the Tanker Owners Union. The union executives have been using the proceeds from the UPPF to fund their operational expenses, including maintaining a secretariat and ensuring workers’ welfare.

Thirdly, this paper’s findings are that the embezzlement allegation is based on a power play among the leadership of the Tanker Owners Union, with the amount exaggerated to GH₵1.3 billion for effect. Jacob Amuah, the Coordinator of the UPPF, was only caught in their crossfire. Mr Amuah has been accused of conspiring with some Union executive members to embezzle the GHc1.3 billion, but NPA sources insist the confusion between the Union’s chairman, Mr Ahiadome, and Joseph K. Horgle is to blame for the allegation.

One of the documents available to The Herald, dated 13 May 2019 and addressed to the then Chief Executive NPA, Alhassan S Tampuli, revealed that the Tanker Owners Union asked for a deduction at the source of membership subscription on its behalf.

The letter, signed by Union Chairman James K. Ahiadome, stated:” Membership has agreed to a monthly subscription of 5% of the freight value earned in the month. This is to be deducted at source before freight payments are made to the OMCs/LPGMC for subsequent payment to the transporters.”

“The National Petroleum Authority is, therefore, authorized to effect these deductions and subsequently pay to the Tanker Owners Union commencing with freight claims for May 2019”.     

Mr Ahiadome’s letter attached a resolution of the Tanker Owners Union executives to that effect.

The resolution bore the signatures of the Union’s chairman, Mr Ahiadome, alongside Joseph K. Horgle, Lawrence Ofosu-Frimpong, Theophilus Okornoe, and Isaac Tetteh, who were listed as Governors.

However, Ignatius Doe was mentioned as the Executive Secretary. It was in accordance with Articles 5(b), 6(a), and 6(c) of the Union’s Constitution. 

The three-point resolution was taken at a meeting dated 7th May 2019. It directed “..Members of the Union to pay a monthly subscription of 2.5% of the freight earned within the month, and stated that the “National Petroleum Authority (NPA) is mandated to deduct the subscription from the transporters’ monthly freight claims at the source”.

The resolution also asked “that the NPA pays the total deducted amounts into the official account of the Tanker Owners Union, A/c No 6010310939, Zenith Bank, Tema Main Branch.            

It is not clear why, even though the resolution asked that the money be paid into A/c No 6010310939, Zenith Bank, Tema Main Branch, the funds were rather paid into Access Bank—Tema Main Branch.  

It is also unclear why the Union’s chairman, Mr Ahiadome, and Joseph K. Horgle, both very respected and influential fuel transporters in the country, will be haggling over the organisation’s running.

It is also uncertain why the resolution mentioned 2.5% of the freight earned as the amount to be deducted from the fund, while the attached letter signed by Mr Ahiadome mentioned 5%.

However, The Herald has cited documents showing that Jacob Amuah, the UPPF coordinator, is not the only signatory to the Payment Vouchers (PV). There is a long list of NPA officials whose signatures matter when releasing the funds into the Union’s account, and Jacob Amuah, the UPPF coordinator, is just one of them.

Despite allegations against Jacob Amuah, The Herald has found that multiple NPA officials had oversight of the fund’s release, including Baba Osman (Finance, Compliance), Andy Opoku Agyemang (Director, Internal Audit), Evans Asamany Addo (Prepared Payment Vouchers), Philip Sam Ocran (Checked Transactions) and Nana Busumtwi. The final to authorize payment is the Chief Executive Officer (CEO) of NPA.

According to information available to The Herald, the UPPF coordinator who was interdicted has since been investigated by a committee established by Godwin Edudzi Tamekloe, the acting CEO of the NPA, regarding the alleged embezzlement of GH₵1.3 billion, and a report is now prepared for submission.

Meanwhile, The former Chief Executive Officer (CEO) of NPA, Dr. Mustapha Abdul-Hamid, has publicly declared his willingness to cooperate with the Office of the Special Prosecutor (OSP) regarding an ongoing investigation into the alleged embezzlement of GH¢1.3 billion from the UPPF.

This comes after the Special Prosecutor, Kissi Agyebeng, announced during a press conference on Wednesday, February 12, 2025, that Mustapha Abdul-Hamid and three other individuals are under investigation for suspected financial mismanagement related to the petroleum fund.

The UPPF, a crucial mechanism in Ghana’s petroleum sector, is designed to ensure uniform fuel pricing across the country by covering transportation costs for oil marketing companies.

Shortly after the announcement, Mustapha Hamid took to social media to acknowledge the probe, affirming that he had not yet received any official summons or invitation from the OSP or any other state investigative body.

However, he pledged his full cooperation should he be required to assist in any inquiries.

“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 Price Fund (UPPF) during my tenure as the Chief Executive of the National Petroleum Authority.

“As at this afternoon, I have neither received any invitation by 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.”

According to the Special Prosecutor, the investigation is targeting four individuals, including Jacob Amoah, the UPPF Coordinator, and two NPA staff members, Wendy Ashong Newman and Freda Tandoh.

The allegations suggest that during Mustapha Hamid’s tenure, significant funds from the UPPF may have been misappropriated, leading to possible financial discrepancies within the petroleum sector.