The Economic and Financial Crimes Commission (EFCC) has uncovered approximately ₦80 billion in multiple bank accounts belonging to a recently dismissed managing director of one of Nigeria’s state-owned refineries.
This discovery is part of an ongoing investigation into the alleged misappropriation of nearly $3 billion allocated for the rehabilitation of Port Harcourt Refining Company (PHRC), Warri Refining and Petrochemical Company (WRPC), and Kaduna Refining and Petrochemical Company (KRPC).
As part of the investigation, the EFCC has arrested former managing directors and senior officials of the three major state-owned refineries.
Among those in custody are Ibrahim Onoja, former MD of PHRC, and Efifia Chu, former MD of WRPC.
The anti-graft agency is also scrutinizing the activities of other senior officials, including a former chief of the National Petroleum Investment Management Services, a subsidiary of the Nigerian National Petroleum Corporation Limited (NNPCL).
The immediate-past Group Chief Executive Officer of NNPCL, Mele Kyari, and 13 other senior executives are not left out in the investigation.
According to reports, EFCC has requested for certified true copies of emoluments and allowances for these officials, including those who have retired.
A senior EFCC official, speaking on condition of anonymity, stated that the arrests are part of a broader investigation into how billions of dollars were allegedly siphoned from national coffers under the guise of refinery maintenance. The official emphasized the public’s interest in the operational status of the refineries and the need for accountability regarding the allocated funds.
