The Office of the Special Prosecutor (OSP) has publicised a list of assets valued at over GH₵100 million and an additional US$100,000, frozen in connection with the ongoing extortion and money laundering probe at the National Petroleum Authority (NPA).
The move by the OSP is part of the prosecution of former NPA Chief Executive Officer, Dr. Mustapha Abdul-Hamid, and nine others – a case involving alleged financial crimes that have caused losses estimated at over GH₵291 million and US$332,000.
The seized assets include a significant portfolio of both commercial and personal property, ensuring they remain under state control pending the final judicial outcome.
The OSP noted that the freezing orders for the assets were necessary to secure the potential recovery of the state’s lost funds.
The agency confirmed that additional assets remain under active tracing as part of continuing investigations into the alleged grand extortion and money laundering scheme, indicating that the final value of illicit assets could be even higher.
The OSP’s power to freeze and seize these assets is derived directly from its enabling legislation, specifically the Office of the Special Prosecutor Act, 2017 (Act 959).
This mandate allows the OSP to prevent the dissipation of property suspected to have been acquired through corruption or corruption-related offences.
This legal tool is crucial for the OSP’s secondary mandate of asset recovery, ensuring that if a conviction is secured, the state can confiscate the illicit wealth.
