OSP Probes Alleged Fuel Fraud Involving Oil Firms and State Agencies

The Office of the Special Prosecutor (OSP) has initiated a major operation in Ghana’s petroleum sector, carrying out court-approved searches at five fuel depots and the premises of several Bulk Distribution Companies (BDCs).

The coordinated action forms part of an expanding investigation into an alleged scheme aimed at diverting millions in state revenue through under-declaration of petroleum imports and misclassification of products during depot transfers.

In a statement issued on Tuesday, April 7, the OSP said preliminary findings suggest the existence of a well-organised network involving senior officials within key state institutions.

According to investigators, some BDCs allegedly worked in collaboration with personnel from the National Petroleum Authority, the Ghana Revenue Authority, and the National Security Secretariat.

The OSP also noted the involvement of intermediaries who allegedly facilitated illicit financial transactions to obscure the trail of the suspected tax evasion activities.

The search operations targeted several companies within the industry, including Platon Oil and Gas Ltd, Sentuo Oil, Akwaaba Oil, Sahara Oil and Gas Ltd, and Chase Petroleum Gh. Ltd..

The simultaneous operations across multiple locations led to the seizure of numerous documents and electronic devices. The OSP confirmed that several persons of interest have been taken into custody and are cooperating with investigators.

Authorities believe the confiscated electronic materials will provide forensic evidence, particularly regarding communications between the companies and their alleged collaborators within state institutions.

Although the initial raids have been completed, the OSP indicated that the probe is ongoing, with investigators currently reviewing the seized materials to determine the extent of the alleged tax evasion and the resulting financial losses to the state.