GH¢70 Million Debt Scandal Rocks Oil Sector as NPA Refers Directors of 30 Defunct Firms to EOCO

According to a report by TV3 Ghana on Monday, October 19, 2026, the National Petroleum Authority (NPA) has referred the directors of 30 defunct oil marketing companies to the Economic and Organised Crime Office (EOCO) over an accumulated debt of GH¢70 million.

The debt reportedly covers the period between 2018 and 2024. The referral is intended to bring the matter to the attention of EOCO for further investigation and any necessary action.

The development has raised concerns about the financial obligations left behind by oil companies that are no longer operating. The accumulated amount of GH¢70 million represents a significant debt that the authorities are seeking to address.

The National Petroleum Authority is responsible for regulating Ghana’s downstream petroleum industry. Its responsibilities include monitoring the activities of oil marketing companies and ensuring compliance with the rules governing the sector.

The referral of the directors to EOCO could help establish the circumstances surrounding the outstanding debts and determine what steps may be taken to recover the money. However, further details about the individual companies, the directors involved, and the specific circumstances of the debts have not been provided in the report.

The move also highlights the importance of accountability and financial discipline within Ghana’s petroleum industry. Oil marketing companies are expected to meet their financial obligations and comply with the regulations governing their operations.

The Chief Executive Officer of the National Petroleum Authority, Edudzi Tamakloe, is leading the authority at a time when issues concerning compliance and accountability in the petroleum sector remain important.

The next steps will depend on EOCO’s assessment of the referral and any investigations it may undertake. Further action could follow based on the findings and the applicable laws.

The case is expected to draw attention to efforts to address outstanding debts in the petroleum sector and ensure that companies and their directors are held accountable where wrongdoing is established.

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