EFCC Arrests Ex-Governor Okowa Over Alleged N1.3 Trillion Fraud
The Economic and Financial Crimes Commission (EFCC) has confirmed the arrest and detention of former Delta State Governor Dr. Ifeanyi Okowa over an alleged N1.3 trillion fraud.
Sources within the EFCC disclosed that Okowa, who served as Delta State governor from 2015 to 2023 and was a vice presidential candidate in the 2023 general elections, was taken into custody when he reported to the commission’s Port Harcourt Directorate.
The allegations involve the diversion of N1.3 trillion from the 13 percent oil derivation fund allocated to Delta State, reportedly misappropriated during Okowa’s tenure. Additionally, Okowa is accused of failing to account for an additional N40 billion allegedly invested in shares for UTM Floating Liquefied Natural Gas (FLNG). Sources claim he acquired eight percent equity in a major Nigerian bank to support the offshore LNG initiative.
A senior EFCC official stated that Okowa is being questioned by a specialized team of investigators and must respond to charges of financial misconduct. The EFCC’s spokesperson, Dele Oyewale, confirmed Okowa’s presence at the commission’s facility but declined to provide further details.
