The Economic and Financial Crimes Commission (EFCC) has arrested a former Chief Financial Officer of the Nigerian National Petroleum Corporation Limited (NNPCL), Umar Isa Ajiya.
Naijaonpoint reports that he was arrested in connection with an alleged $7.2 billion fraud related to the rehabilitation of Nigeria’s three major refineries, Kaduna, Warri, and Port Harcourt.
There had been reports that some NNPCL officials were under investigation for the alleged mismanagement and diversion of funds earmarked for the turnaround maintenance of these facilities.
A senior EFCC official, who spoke on condition of anonymity with Punch, disclosed that the commission is investigating a total of $2,956,872,622.36 spent across the three refineries.
“Our operatives have arrested a former Chief Financial Officer of the NNPCL, Umar Ajiya Isa, in connection with an alleged $7.2 billion fraud related to the rehabilitation of the Kaduna, Warri, and Port Harcourt refineries,” the source stated.
The breakdown of the disbursed funds under investigation includes:
$1,559,239,084.36 for Port Harcourt Refinery
$740,669,600 for Kaduna Refinery
$656,963,938 for Warri Refinery
The source added, “As CFO, Ajiya oversaw the release of funds for the turnaround maintenance. He is being investigated for alleged abuse of office, corruption, diversion of public funds, and kickbacks from contractors.”
EFCC officials revealed that the probe extends beyond Umar Isa. Several other key figures involved in the refinery projects are also under investigation.
They include the Managing Director of Warri Refinery, Tunde Bakare, former MD of Port Harcourt Refinery, Ahmed Adamu Dikko, and another former MD of Port Harcourt Refinery, Ibrahim Monday Onoja.
The source noted, “These officials are all being investigated for their roles in the disbursement and use of funds for the rehabilitation projects.”
Another senior EFCC officer confirmed that the former Managing Director of the Warri Refinery, Jimoh Olasunkanmi, is also in EFCC custody.
“Yes, it is true. We have arrested Isa. We also have in our custody the former MD of the Warri Refinery, Jimoh Olasunkanmi,” the source said.