The Economic and Financial Crimes Commission (EFCC) has launched an investigation into former top executives of the Nigerian National Petroleum Company Limited (NNPCL) and recently dismissed managing directors of the Port Harcourt, Warri, and Kaduna refineries over an alleged misappropriation of approximately $2.96 billion earmarked for the rehabilitation of the nation’s ailing refineries.
A senior official of the anti-graft agency, who spoke to Vanguard under the condition of anonymity, confirmed that the investigation is targeting several high-ranking individuals linked to the controversial disbursement of maintenance funds.
The EFCC is specifically probing the breakdown of the funds, which include $1.56 billion for the Port Harcourt refinery, $740 million for the Kaduna refinery, and $657 million for the Warri refinery. These allocations were meant for short-term maintenance works on the long-defunct refineries that have continued to drain public resources without delivering fuel to the Nigerian market.
According to preliminary findings, a number of the implicated officials have already been apprehended. Among those arrested are Ibrahim Onoja, former Managing Director of the Port Harcourt Refining Company, and Efifia Chu, former Managing Director of the Warri Refining and Petrochemical Company.
Vanguard reported that one of the detained former MDs has spent over a week in EFCC custody after large sums of money, allegedly linked to the diverted funds, were discovered in his bank accounts. Sources familiar with the investigation suggest that the scale of financial misconduct under probe could potentially surpass the magnitude of the controversial “Emefielegate” scandal, which previously rattled the nation’s financial system.
As of the time this report was filed, EFCC spokesman Dele Oyewale had yet to respond to media inquiries. Meanwhile, the anti-corruption commission has officially written to NNPCL demanding detailed financial records, including emoluments, allowances, and other financial dealings, to support its ongoing investigation into what may become one of Nigeria’s most significant public finance scandals in recent history.
