EFCC Arrests Ex-NNPCL Top Officials For Alleged $7.2bn Fraud
The Economic and Financial Crimes Commission (EFCC) has arrested former top officials of the Nigerian National Petroleum Company Limited (NNPCL) over an alleged $7.2 billion fraud connected to the rehabilitation of the country’s major refineries.
By Rhalialt Arhuoizah
Here’s what’s known so far :
– Arrests Made:
– Umar Ajiya Isa, former Chief Financial Officer (CFO) of NNPCL, was arrested in connection with the alleged fraud.
– Jimoh Olasunkanmi, former Managing Director of the Warri Refinery, is also in EFCC custody.
– Allegations:
– The EFCC is investigating the disbursement of funds for the turnaround maintenance of the Kaduna, Warri, and Port Harcourt refineries, totaling approximately $2.96 billion.
– The officials are accused of abuse of office, corruption, diversion of public funds, and receiving kickbacks from contractors.
– Other Officials Under Investigation:
– Tunde Bakare, current Managing Director of the Warri Refinery.
– Ahmed Adamu Dikko, former Managing Director of the Port Harcourt Refinery.
– Ibrahim Monday Onoja, former Managing Director of the Port Harcourt Refinery.
– Senate Committee’s Findings:
– The Senate Committee on Public Accounts recently raised concerns over discrepancies amounting to trillions of naira in NNPCL’s audited financial records from 2017 to 2023.
– The committee has issued 11 financial queries to the NNPCL finance team, demanding responses within a week.
The EFCC’s investigation is ongoing, and efforts to obtain comments from the agency’s spokesperson, Dele Oyewale, were unsuccessful. The arrests mark a significant escalation in Nigeria’s fight against corruption in the petroleum sector .
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