Energy sector stakeholders are urging the Office of the Special Prosecutor (OSP) to broaden its investigation into the management of Ghana’s petroleum funds, calling for scrutiny of past Chief Executive Officers (CEOs) of the National Petroleum Authority (NPA).
This demand comes in response to the OSP’s ongoing probe into the alleged embezzlement of GHS 1.3 billion from the Unified Petroleum Price Fund (UPPF) under the tenure of former NPA CEO Mustapha Hamid. The UPPF, a crucial mechanism for stabilizing fuel prices and ensuring nationwide distribution of petroleum products, has been plagued by allegations of financial mismanagement.
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Kojo Yaotse, Policy Lead for Conventional Energy at the African Centre for Energy Policy (ACEP), has called for a comprehensive review of the fund’s management beyond the current investigation.
“We believe this investigation should not be limited to a single administration. A full audit is necessary to ensure accountability beyond the tenure of the immediate past CEO and managers,” Yaotse stated, adding that ACEP is considering submitting additional concerns to the OSP for review.
Similarly, Benjamin Nsiah, Executive Director of the Centre for Environmental Management and Sustainable Energy (CEMSE), has advocated for a wider probe that includes the NPA board and the Minister of Energy at the time.
“Investigators should go beyond the immediate past CEO and extend the inquiry to the board and the Minister of Energy during that period,” Nsiah remarked.
The OSP’s crackdown on alleged financial irregularities in the energy sector is already expanding. In addition to the NPA investigation, the office has launched probes into potential mismanagement within the Minerals Income Investment Fund (MIIF), focusing on transactions involving Quarry Value Corporation, Electrochem Ghana Limited, and Agyapa Royalties Limited.
