The Economic and Financial Crimes Commission (EFCC) has arrested Umar Isa, a former Chief Financial Officer of the Nigerian National Petroleum Corporation Limited (NNPCL), in connection with an alleged $7.2 billion fraud tied to the rehabilitation of Nigeria’s three major refineries—Kaduna, Warri, and Port Harcourt.
Sources reveal that several NNPCL officials are under investigation over the alleged mismanagement and diversion of funds meant for the overhaul of these facilities. The total figure under probe stands at $2,956,872,622.36.
The breakdown includes $1,559,239,084.36 allocated for the Port Harcourt refinery, $740,669,600 for the Kaduna refinery, and $656,963,938 earmarked for Warri refinery.
A senior EFCC official, who spoke on condition of anonymity due to a lack of authorisation to speak on the matter, confirmed Isa’s arrest and the ongoing probe.
“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.
As CFO, Ajiya oversaw the release of funds for the turnaround maintenance of the three refineries. All key officials involved in the maintenance and other major NNPCL projects are also under investigation for alleged abuse of office, corruption, diversion of public funds, and kickbacks from contractors.
Other officials involved are Tunde Bakare, MD, Warri Refinery; Ahmed Adamu Dikko, former MD, Port Harcourt Refinery; and Ibrahim Monday Onoja, former MD, Port Harcourt Refinery,” the source disclosed.
A second official confirmed the detention of another top executive implicated in the case.
“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.
Attempts to obtain comments from EFCC’s spokesperson, Dele Oyewale, were unsuccessful as of press time.
