The Economic and Financial Crimes Commission (EFCC) has arrested former Delta State Governor Ifeanyi Okowa over allegations of diverting N1.3 trillion from the 13 percent derivation fund intended for oil-producing states.
As reported by The Cable, sources involved in the case claim the alleged misappropriation took place between 2015 and 2023.
Okowa was detained on Monday in Port Harcourt, Rivers State, after responding to an EFCC invitation regarding the accusations. The former governor also faces investigation for allegedly spending N40 billion on shares in UTM Floating Liquefied Natural Gas, a project by UTM Offshore Limited in Akwa Ibom State, with unaccounted funds.
Additionally, the EFCC is examining claims that Okowa redirected funds to acquire properties in Abuja and Asaba. He is currently being held at the EFCC facility in Port Harcourt. Okowa, who served as governor from 2015 to 2023, was succeeded by Sheriff Oborevwori.
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