EFCC probes ex-NNPCL, refinery chiefs over alleged $2.96b rehabilitation fund scandal
EFCC probes ex-NNPCL, refinery chiefs over alleged $2.96b rehabilitation fund scandal
The Economic and Financial Crimes Commission (EFCC) has launched a sweeping investigation into former top executives of the Nigerian National Petroleum Company Limited (NNPCL) and recently removed managing directors of the Port Harcourt, Warri, and Kaduna refineries.
They were probed over the suspected diversion of roughly $2.96 billion intended for refinery rehabilitation projects.
According to a senior EFCC official who requested anonymity, the inquiry targets a number of high-ranking individuals and centers on funds allocated for the short-term overhaul of Nigeria’s ailing refineries, which have long struggled with operational inefficiencies.
Initial probes reveal that the EFCC is closely examining the breakdown of the disbursed funds: $1.56 billion for the Port Harcourt refinery, $740 million for Kaduna, and $657 million for Warri.
Already, several arrests have been made, including former Port Harcourt Refining Company MD Ibrahim Onoja and former Warri Refining and Petrochemical Company MD Efifia Chu.
One of the detained former executives has reportedly been in EFCC custody for over a week following the discovery of large sums in personal bank accounts.
The scale of the alleged financial misconduct is raising alarm, with some observers warning it could surpass the notorious “Emefielegate” scandal in scope and impact.
As of press time, EFCC spokesperson Dele Oyewale had not responded to requests for comment. Meanwhile, the agency has formally requested detailed financial documentation from NNPCL, including records of salaries, allowances, and other payments, to support the ongoing investigation.
