Politics

‘He’s With Us’, EFCC Confirms Ex-Gov Okowa’s Arrest Over N1.3trn Diversion

The Economic and Financial Crimes Commission (EFCC) arrested Ifeanyi Okowa, the immediate past governor of Delta State, on Monday in connection to an illegal N1.3 trillion diversion.

The amount represents the 13% oil derivation funds allocated from the Federation Account between 2015 and 2023.

Advertisement

Sources within the EFCC told The Punch that Okowa was detained at the commission’s office in Port Harcourt, Rivers State, following an invitation from investigators examining the allegations.

 

Advertisement

“He is also accused of failing to account for the funds, as well as an additional N40 billion that he allegedly claimed was used to acquire shares in UTM Floating Liquefied Natural Gas. He reportedly bought shares worth N40 billion in one of the country’s major banks, representing an 8% equity stake, to support the offshore LNG project. The funds are alleged to have been misappropriated for other purposes,” a source was quoted on Monday.

“Investigators are also examining the alleged diversion of funds by the former governor to acquire estates in Abuja and Asaba, Delta State. He is currently being held at the EFCC facility in Port Harcourt.”

Advertisement

Confirming the incident, Dele Oyewale, the spokesperson for the anti-graft agency, said, “He is with us.”

Advertisement
citynews

Recent Posts

#USElection2024 Live Updates: Trump Vs Harris…Latest Results…Latest Polls

#US election 2024 Live Updates:  What you need to know about USelection2024 latest polls •…

9 mins ago

Prince Harry and Meghan Markle pursue separate projects

A royal commentator suggests that Prince Harry and Meghan Markle are taking separate paths in…

2 hours ago

#USElection2024: Trump, Harris close campaign in swing states on eve of deadlocked election

PHILADELPHIA/GRAND RAPIDS, Michigan (Reuters) -Donald Trump and Kamala Harris both predicted victory as they campaigned…

2 hours ago

Breaking: Tinubu Makes Fresh Appointment

President Bola Ahmed Tinubu has appointed Abdulrazak Yusuf Tukur as National Commissioner for the Independent…

3 hours ago

Hardship: We’ll No Longer Watch Anyone Insult Tinubu – Doyin Okupe Vows

A former Director-General of Peter Obi’s 2023 presidential campaign council, Doyin Okupe, has said that…

3 hours ago

BBNaija’s Dorathy goes naughty on her birthday(Photos)

Dorathy Bachor has put her massive cleavage on display as she turns a year older.…

16 hours ago