EFCC quizzes Ifeanyi Okowa for alleged fund misappropriation

The Economic and Financial Crimes Commission (EFCC) has taken former Delta State Governor Ifeanyi Okowa into custody amid serious allegations of financial misconduct.

His arrest stems from accusations of diverting a staggering N1.3 trillion, reportedly part of the 13 percent derivation fund designated for oil-producing states.

The alleged misappropriation occurred during Okowa’s tenure from 2015 to 2023. The EFCC officials apprehended him in Port Harcourt after he responded to an invitation to their office concerning the ongoing investigation.

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In addition to the N1.3 trillion allegations, the former governor is under scrutiny for another N40 billion linked to the acquisition of shares in UTM Floating Liquefied Natural Gas, a facility currently being developed by UTM Offshore Limited in Akwa Ibom State.

Reports suggest that Okowa has not provided adequate accountability for the use of these funds.

Further investigations are also examining claims that Okowa diverted resources to purchase luxury estates in Abuja and Asaba, intensifying the scrutiny surrounding his financial dealings while in office.

The EFCC continues to probe these serious allegations as part of its mandate to combat corruption in Nigeria.