Alleged Fraud: Ex-Delta Governor Okowa Faces Second Night in EFCC Custody

Former Delta State Governor Ifeanyi Okowa spends a second night in the custody of the Economic and Financial Crimes Commission (EFCC) over alleged fraud. Get the latest updates on his detention and the ongoing investigation.

Former Delta State Governor Ifeanyi Okowa remains in custody at the Economic and Financial Crimes Commission (EFCC) office in Port Harcourt, marking his second night of detention by the anti-corruption agency.

The EFCC took Okowa into custody following his compliance with their summons on Monday, which was related to inquiries concerning alleged financial misconduct during his tenure.

Okowa, who was the running mate to the Peoples Democratic Party (PDP) presidential candidate Atiku Abubakar in the 2023 elections, is facing serious allegations of misappropriating N1.3 trillion.

Additionally, he is reportedly under scrutiny for not providing an account for N40 billion that he allegedly claimed was used to purchase shares in UTM Floating Liquefied Natural Gas.

The Delta State chapter of the All Progressives Congress (APC) has voiced its support for the EFCC’s actions, perceiving the detention as a significant step in Nigeria’s ongoing battle against corruption.

According to one source, he is also accused of failing to account for the funds and another N40 billion that he purportedly used to acquire shares in UTM Floating Liquefied Natural Gas.

Furthermore, it is alleged that he invested N40 billion in shares of a major bank in the country, which represented an eight percent equity stake intended for the offshore LNG project. The funds are claimed to have been diverted for other uses.

Investigators are also looking into claims that the former governor misappropriated funds to purchase properties in Abuja and Asaba, Delta State.

However, a source familiar with the situation informed our correspondent on Tuesday that the former governor’s release has not yet occurred due to the severity of the allegations against him.

The source added that Okowa was confronted with these allegations earlier in the day.

READ ALSO: PDP Calls for Immediate Release of Okowa Amid N1.3 Trillion Diversion Allegations

“We are still holding him; he remains in our custody. The investigation is ongoing, and he was previously confronted with some of the allegations against him.

“We are retaining him due to the magnitude of the allegations and the sums involved. We require him to respond to these allegations,” the source stated.

The Delta APC State Publicity Secretary, Valentine Onojeghuo, issued a statement on Tuesday, calling on the EFCC to persist in its investigation of the financial activities of other former governors and public officials.

The statement included the following: “We in the APC fully support the arrest of the former governor, who presided over one of the most alarming instances of financial mismanagement during his eight-year term.

“His administration is accused of diverting substantial state resources for personal gain, which included the establishment of a bank, funding a failed presidential campaign, and backing the contentious selection of a successor.

“This arrest acts as a warning to all individuals in public office, reinforcing the notion that the time of impunity has concluded and that no one, regardless of their position or political ties, is exempt from the law.”

Furthermore, it stated, “The legacy of Dr. Ifeanyi Okowa’s administration is characterized by a significant debt burden resulting from a reckless borrowing spree, which has earned him the infamous title of ‘Borrow Borrow Governor.’

“Throughout his eight years in office, Delta State has little to demonstrate for the substantial federal allocations received. The few subpar roads he constructed, often referred to as the ‘roadmaster,’ have quickly fallen into disrepair.”