THE Economic and Financial Crimes Commission (EFCC) has arrested a former Governor of Delta State, Ifeanyi Okowa, for alleged diversion of N1.3 trillion (13 per cent) derivation fund from the federation account between 2015 and 2023.
According to Channels Television, the information was obtained on Monday, November 4, by an EFCC source.
The source claims that the former governor was taken into custody on Monday in Port Harcourt, Rivers State, after reporting to the EFCC’s Port Harcourt Directorate at the request of the detectives working on his case.
He was arrested after he honoured the invitation of the anti-graft agency.
The former governor was accused of failing to provide accounts of the cash along with another N40 billion he allegedly claimed to have used to purchase shares in UTM Floating Liquefied Natural Gas.
In particular, Okowa is being accused of purchasing N40 billion worth of shares in one of the nation’s largest banks, which accounted for 8 per cent of the stock, in order to float the offshore LNG. It was claimed that the money was used for other uses.
Investigators are also examining the diversion of funds by the former governor to acquire estates in Abuja and Asaba in Delta State.
The former governor was currently being held at the EFCC holding facility in Port Harcourt.
Okowa was the running mate to Atiku Abubakar, the presidential candidate of the Peoples Democratic Party (PDP) in the 2023 election.
Investigators are also looking into how the former governor misappropriated money to buy properties in Asaba, Delta State, and Abuja FCT.
Reports say he is currently being detained at the EFCC facility in Port Harcourt, Rivers State.
Okowa was the running mate to former vice president Atiku Abubakar when he contested for president under the Peoples Democratic Party (PDP) in 2023.
Attempts to confirm the news from the EFCC were unsuccessful, as the spokesperson to the commission, Dele Oyewale, did not respond to messages sent to his phone, and calls to his mobile lines did not go through.
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