EFCC Holds Mele Kyari and Six Other NNPC Employees in Custody.

The Economic and Financial Crimes Commission (EFCC) has found around N80 billion in various bank accounts belonging to a recently ousted managing director of one of Nigeria’s state-run refineries. This shocking discovery is part of an ongoing inquiry into the alleged misuse of nearly $3 billion intended for refurbishing the nation’s refineries.

Sources familiar with the investigation indicate that the EFCC is examining the former managing director along with other senior officials of the refinery for their purported involvement in a large-scale fraud operation that has left the refineries in disrepair. The funds earmarked for refurbishing and upgrading the refineries are alleged to have been significantly siphoned into private bank accounts.

This finding of N80 billion in the former managing director’s accounts marks a significant advancement in the investigation, likely leading to additional arrests and prosecutions. The commission has pledged to thoroughly pursue justice and recover all embezzled funds.

The refinery in question has endured years of corruption and mismanagement, with billions of allocated dollars failing to produce meaningful improvements. The current government has committed to eradicating corruption and holding accountable those responsible for misusing public resources.

The EFCC’s investigation is still underway, and more developments are expected soon. The commission has encouraged anyone with information about the alleged fraud to step forward and aid in the inquiry.

In a statement, the EFCC emphasized: “We are dedicated to ensuring that those who have defrauded the Nigerian populace face justice and that the nation’s resources benefit everyone, not just a privileged few. We will persistently work to eliminate corruption and ensure that our refineries are repaired and operating efficiently.”

The revelation of N80 billion in the sacked managing director’s accounts represents a major step forward in Nigeria’s battle against corruption, likely sending a powerful message to those looking to exploit the country’s resources for personal profit. As the investigation progresses, Nigerians are keenly anticipating the outcome and hope to see the refineries restored to their previous efficiency.