$7.2bn fraud: EFCC arrests Ex-NNPCL finance boss, Ex-Warri refinery MD, others

Image

Operatives of the Economic and Financial Crimes Commission have arrested a former Chief Financial Officer of the Nigerian National Petroleum Corporation Limited, Umar Isa, in connection with an alleged $7.2 billion fraud linked to the rehabilitation of the Kaduna, Warri, and Port Harcourt refineries.

The PUNCH had exclusively reported that some officials of the NNPCL were being investigated for the alleged mismanagement of funds earmarked for the overhaul of these facilities.

The total amount under investigation is $2,956,872,622.36.
Specifically, the EFCC is probing the disbursement of $1,559,239,084.36 allocated to the Port Harcourt refinery, $740,669,600 released for the Kaduna refinery, and $656,963,938 approved for the Warri refinery.

Speaking to our correspondent on Monday, a top official in the agency, who requested anonymity due to a lack of authorisation to speak publicly, confirmed Isa’s arrest and said he was being investigated for alleged abuse of office, corruption, among other offences.

“Our operatives have arrested a former Chief Financial Officer of the NNPCL, Umar Ajiya Isa, in connection with an alleged $7.2 billion fraud related to the rehabilitation of the Kaduna, Warri, and Port Harcourt refineries.

“As CFO, Ajiya oversaw the release of funds for the turnaround maintenance of the three refineries. All key officials involved in the maintenance and other major NNPCL projects are also under investigation for alleged abuse of office, corruption, diversion of public funds, and kickbacks from contractors.

“Other officials involved are Tunde Bakare, MD, Warri Refinery; Ahmed Adamu Dikko, former MD, Port Harcourt Refinery; and Ibrahim Monday Onoja, former MD, Port Harcourt Refinery,” the source stated.

Another source who confirmed Isa’s arrest disclosed that the EFCC had also detained the former Managing Director of the Warri Refinery, Jimoh Olasunkanmi.