A former Chief Executive of the National Petroleum Authority (NPA), the petroleum downstream regulator, Dr Sheikh Mustapha Abdul-Hamid, has responded to claims by the Special Prosecutor that he and other staff members of NPA are under investigations for an alleged embezzlement of a GH¢1.3 billion from the Unified Petroleum Price Fund (UPPF).
According to him, although he has not received any invitation by any state investigative body nor has he been under investigation for any crime, he is willing to avail himself to assist in any investigation.
“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 of 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,” Dr Mustapha Abdul-Hamid wrote on Facebook.
At a press briefing on Wednesday morning, February 12, 2025, the Special Prosecutor, Kissi Agyabeng, informed Ghanaians that his office is investigating the former NPA boss and some staff members over an alleged embezzlement of a GH¢1.3 billion from the UPPF.
The three other individuals included in the investigation are the Co-ordinator of the UPPF, Mr. Jacob Amoah, NPA staff, Freda Acheampong, and another staff, Wendy Ashong Newman.
Background of UPPF
In the normal scheme of pricing petroleum products, the distance between the storage depot and the retail outlet determines the price per litre.
This practice is very common in most parts of the world.
However, in Ghana, fuel prices for all OMCs are the same irrespective of which part of Ghana you live in.
This is made possible by the Unified Petroleum Pricing Fund (UPPF) Scheme.
The UPPF ensures that the unified prices of petroleum products include an element representing, as near as possible, the actual cost of distribution.
The UPPF ensures that petroleum products reach the consumer wherever they live in Ghana efficiently and that fuel is transported throughout the country in a manner that is simple, effective and inexpensive to operate administratively.
Source: https://energynewsafrica.com
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