- EFCC arrests ex-NNPCL CFO Umar Isa over $7.2bn refinery fraud.
- Former Warri Refinery MD Jimoh Olasunkanmi also detained in the probe.
- Funds for Port Harcourt, Kaduna, Warri refineries under intense investigation
Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested a former Chief Financial Officer of the Nigerian National Petroleum Company Limited (NNPCL), Umar Isa, in connection with an alleged $7.2 billion fraud tied to the rehabilitation of the nation’s refineries.
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EKO HOT BLOG reports that the arrest is linked to the ongoing probe into the controversial funds allocated for the turnaround maintenance of the Kaduna, Warri, and Port Harcourt refineries. The PUNCH had earlier reported that several top NNPCL officials were under investigation for suspected mismanagement of the funds intended to revamp these critical national assets.
Investigations reveal that the EFCC is specifically scrutinizing the disbursement of $1.56 billion for the Port Harcourt refinery, $740.7 million for the Kaduna refinery, and $657 million for the Warri refinery. Altogether, the total amount under probe stands at approximately $2.96 billion.
A senior EFCC official who spoke on condition of anonymity confirmed Isa’s arrest to our correspondent on Monday. The source disclosed that Isa is being questioned over allegations of abuse of office, corruption, and mismanagement of public funds.
“Our operatives have arrested the former CFO of NNPCL, Umar Ajiya Isa, in connection with the refinery rehabilitation funds. He was directly involved in overseeing the release of funds for the turnaround maintenance of the refineries,” the source said.
The official further noted that other key figures involved in the projects are also being investigated for alleged diversion of public funds, kickbacks from contractors, and abuse of office.
Another EFCC source confirmed the arrest of the former Managing Director of the Warri Refinery, Jimoh Olasunkanmi, who is also in custody.
“Yes, Isa is with us. We have also detained the former MD of Warri Refinery, Jimoh Olasunkanmi,” the source added.
Efforts to reach EFCC spokesperson, Dele Oyewale, for official comments were unsuccessful as of press time.
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