EFCC Nabs Sacked NNPCL, Top Officials for Graft as N80 Billion Found in Refinery MD’s Account
The Economic and Financial Crimes Commission (EFCC) has arrested several top officials of Nigeria’s state-owned refineries, including the recently sacked Managing Directors of the Port Harcourt Refining Company, Warri Refining and Petrochemical Company, and Kaduna Refining and Petrochemical Company.
The arrests were made in connection with an alleged $2.96 billion fraud related to the mismanagement of funds meant for the rehabilitation of the refineries.
According to sources, the EFCC is investigating the sum of $1.56 billion allocated to the Port Harcourt refinery, $740.67 million released for the Kaduna refinery, and $656.96 million approved for the Warri refinery.
The former Managing Directors, including Mr. Ibrahim Onoja of the Port Harcourt Refining Company and Efifia Chu of the Warri Refining and Petrochemical Company, are among those being questioned by the anti-graft agency.
In a shocking revelation, top management sources at the Nigerian National Petroleum Company Limited (NNPCL) disclosed that N80 billion was found in the bank account of one of the sacked Managing Directors.
This discovery has raised eyebrows and sparked outrage, with many calling for a thorough investigation and prosecution of those involved.
The development has also sparked criticism from operators and experts in the sector, who accused the NNPCL of deceiving Nigerians about the state of the refineries.
Despite the refineries resuming operations in November and December 2024, their output has been poor, leading to concerns about the effectiveness of the rehabilitation efforts.
The EFCC’s investigation is ongoing, and it is expected that more details will emerge in the coming days. The arrest of the sacked refinery MDs and the discovery of the massive sum in one of their accounts have raised hopes that those responsible for the alleged fraud will be brought to justice.
The Nigerian government had allocated billions of dollars for the rehabilitation of the country’s refineries, which have been in a state of disrepair for years.
The refineries, which are supposed to provide a significant portion of the country’s fuel needs, have been operating at a fraction of their capacity, leading to a reliance on imported fuel.
The alleged mismanagement of funds meant for the rehabilitation of the refineries has sparked outrage and calls for accountability.
The EFCC’s investigation and the arrest of the sacked refinery MDs are seen as a step in the right direction, but many are calling for more to be done to ensure that those responsible are held accountable and that the refineries are restored to optimal capacity.
Operators and experts in the sector have expressed disappointment and frustration with the NNPCL’s handling of the refineries.
“The NNPCL has been deceiving Nigerians about the state of the refineries. Despite the billions of dollars allocated for rehabilitation, the refineries are still not functioning optimally. It’s a shame and a waste of resources,” said an operator who didn’t want his name in print.
Others have called for a thorough investigation and prosecution of those involved in the alleged fraud. “The discovery of N80 billion in one account is shocking and unacceptable,” said a civil society organization. “Those responsible must be held accountable and prosecuted to the fullest extent of the law.”
The Nigerian government has promised to investigate the matter and ensure that those responsible are brought to justice.
The EFCC’s investigation is ongoing, and it is expected that more details will emerge in the coming days.
