Alleged N80bn theft: Ex-NNPC chiefs under intense scrutiny as EFCC takes fresh action, see details

• EFCC investigates erstwhile NNPC executives and refinery MDs implicit misappropriation of $2.96 cardinal intended for refinery rehabilitation
• Several officials, including erstwhile refinery MDs, person been arrested, with important sums recovered successful their slope accounts
• The EFCC has requested broad fiscal records from NNPCL to assistance successful its investigation

FCT, Abuja – The Economic and Financial Crimes Commission (EFCC) has launched a caller probe into erstwhile executives of the Nigerian National Petroleum Company Limited (NNPCL) and precocious dismissed managing directors of the Port Harcourt, Warri, and Kaduna refineries.

The probe centres connected the alleged misappropriation of astir $2.96 cardinal (around N80 billion) earmarked for the rehabilitation of the refineries, which person suffered from long-standing operational issues.

Alleged N80bn Theft: EFCC Takes Fresh Action connected Ex-NNPC Chiefs Photo credit: @officialEFCC/@MKKyari
Source: Twitter

A elder EFCC official, speaking connected the information of anonymity, confirmed the probe involves respective high-ranking individuals.

The funds successful question were allocated for the short-term attraction and upgrade of these cardinal nationalist assets, which person faced ongoing challenges successful their operations, Vanguard reported.

Focus connected Misappropriated Funds for Refineries

The EFCC’s probe is focusing connected the disbursement of funds for the attraction of the Port Harcourt, Warri, and Kaduna refineries.

According to preliminary findings, the funds allocated for each refinery are significant:

"$1.56 cardinal was allocated to the Port Harcourt refinery; $740 cardinal was earmarked for the Kaduna refinery; $657 cardinal was designated for the Warri refinery."

These amounts person raised concerns implicit however the funds were managed and whether they were misappropriated.

Sources adjacent to the probe indicated that the committee is scrutinising the allocation and usage of these funds.

Arrests and Fresh Developments

Several high-ranking officials person already been arrested successful transportation with the investigation.

Among those detained are erstwhile Managing Directors Ibrahim Onoja of the Port Harcourt Refining Company and Efifia Chu of the Warri Refining and Petrochemical Company.

One erstwhile MD, whose sanction has not been disclosed, has reportedly been successful EFCC custody for implicit a week, Punch reported.

Large sums of money were allegedly discovered successful his slope accounts, further intensifying suspicions regarding the mismanagement of the funds.

“The magnitude of this ungraded is unprecedented, and immoderate are already comparing it to the infamous ‘Emefielegate’ scandal,” an insider adjacent to the EFCC probe revealed. “Given the standard of the alleged theft, this lawsuit could beryllium to beryllium adjacent larger successful presumption of the sums involved.”

EFCC Requests Financial Records from NNPCL

As portion of the investigation, the EFCC has formally requested broad fiscal records from NNPCL.

These records see elaborate accusation connected the emoluments, allowances, and different fiscal matters related to the erstwhile executives and the refineries successful question.

The committee is keen to guarantee a thorough introspection of each applicable fiscal transactions to afloat uncover the grade of the alleged theft.

At the clip of writing, EFCC spokesperson Dele Oyewale was unavailable for comment, and nary authoritative connection had been released from the committee regarding the presumption of the investigation.

The ongoing probe into the NNPC executives and refinery MDs has attracted wide attention, peculiarly fixed the size of the alleged misappropriation.

The ungraded has raised concerns astir the continued inefficiency and mismanagement successful Nigeria’s state-run lipid sector, and galore are questioning the relation of authorities officials successful overseeing the usage of nationalist funds.

EFCC arrests 3 suspects down Q-net varsity scam

Previously, Legit.ng reported that three suspected fraudsters, Olaniyan Joshua, Oyetunde Julius Akano, and Victor Oluwale person been arrested implicit a nexus with the Q-net University scam.

Operatives of the Economic and Financial Crimes Commission (EFCC) arrested the suspects connected Wednesday, May 1, 2025, successful Abuja.

The suspects are presently undergoing interrogation successful the EFCC office successful the nation’s capital.

PAY ATTENTION: Сheck retired quality that is picked exactly for YOU ➡️ find the “Recommended for you” artifact connected the location leafage and enjoy!

Source: Legit.ng