The Economic and Financial Crimes Commission (EFCC) has arrested Ifeanyi Okowa, former governor of Delta State, on allegations of diverting N1.3 trillion from funds allocated to oil-producing states.
Sources familiar with the investigation revealed that Okowa was detained on Monday at the EFCC office in Port Harcourt, Rivers State, following his response to an invitation by the anti-graft agency.
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EKO HOT BLOG reports that the alleged diversion involves the 13 percent derivation fund earmarked for Delta State, with the misappropriation reportedly taking place between 2015 and 2023, during Okowa’s tenure as governor.
Insiders also disclosed that Okowa is under investigation for an additional N40 billion allegedly used to purchase shares in UTM Floating Liquefied Natural Gas, a project by UTM Offshore Limited in Akwa Ibom State. The former governor has reportedly not provided satisfactory accounts of these funds.
The EFCC is further investigating claims that Okowa redirected public funds to acquire estates in Abuja and Asaba.
Okowa, who served as Delta State governor from 2015 to 2023, is currently being held at the EFCC facility in Port Harcourt. He was succeeded by Sheriff Oborevwori.
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