The Economic and Financial Crimes Commission (EFCC) has arrested Umar Ajiya Isa, former Chief Financial Officer of the Nigerian National Petroleum Corporation Limited (NNPCL), in connection with an alleged $7.2 billion fraud related to the rehabilitation of Nigeria’s refineries.
Sources within the anti-graft agency confirmed that the arrest is part of a broader investigation into the misappropriation of funds earmarked for the overhaul of the Port Harcourt, Kaduna, and Warri refineries.
The amount currently under scrutiny totals $2.96 billion, allocated as follows $1.56 billion – Port Harcourt Refinery, $740.67 million – Kaduna Refinery and $656.96 million – Warri Refinery.
A senior EFCC official, speaking anonymously, said Isa is being investigated for alleged abuse of office, corruption, diversion of public funds, and receiving kickbacks.
“As CFO, Ajiya oversaw the disbursement of funds for the refineries’ turnaround maintenance projects. Other top officials connected to similar NNPCL projects are also under probe,” the source stated.
Others reportedly under investigation include Tunde Bakare, current Managing Director, Warri Refinery, Ahmed Adamu Dikko, former MD, Port Harcourt Refinery, Ibrahim Monday Onoja, also a former MD, Port Harcourt Refinery.
The EFCC has also detained Jimoh Olasunkanmi, former MD of the Warri Refinery, in connection with the case.
As of press time, attempts to reach EFCC spokesperson Dele Oyewale for an official comment were unsuccessful.
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