Ex-NNPCL senior officials in EFCC net over $7.2bn fraud

Ex-NNPCL senior officials in EFCC net over $7.2bn fraud

A number of former senior officials of the Nigerian National Petroleum Corporation Limited (NNPCL) are currently under interrogation in the custody of the Economic and Financial Crimes Commission (EFCC).

A report by the Punch newspaper alledged the arrest of a former Chief Financial Officer NNPCL, Umar Isa, in connection with an alleged $7.2 billion fraud linked to the rehabilitation of the Kaduna, Warri, and Port Harcourt refineries.

The report quoted an anonymous insider at EFCC as saying that the total amount under investigation is $2,956,872,622.36. Specifically, the EFCC is probing the disbursement of $1,559,239,084.36 allocated to the Port Harcourt refinery, $740,669,600 released for the Kaduna refinery, and $656,963,938 approved for the Warri refinery.

He said: “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.
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“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 stated.

Another source who confirmed Isa’s arrest disclosed that the EFCC had also detained the former Managing Director of the Warri Refinery, Jimoh Olasunkanmi.

“Yes, it is true. We have arrested Isa. We also have in our custody the former MD of the Warri Refinery, Jimoh Olasunkanmi,” the second source said.

Source: Punch