Federal Agency Detains Previous Refinery Managers over Accusations of Inappropriate Management of $2.9 Billion Funds
In a sweeping move, the EFCC has taken top officials from the Port Harcourt Refining Company (PHRC), Warri Refining and Petrochemical Company (WRPC), and Kaduna Refining and Petrochemical Company (KRPC) into custody. The arrests stem from allegations of mismanaging a colossal $2,956,872,622.36 fund set aside to rehabilitate these refineries.
Our sources confirm that the EFCC's investigation centers around the misallocation of funds, with the Port Harcourt refinery receiving $1,559,239,084.36, Kaduna refinery receiving $740,669,600, and Warri refinery $656,963,938.
The deposed MD of PHRC, Ibrahim Onoja, and Efifia Chu, once the MD of WRPC, are among the high-ranking officials under the microscope.
A senior EFCC insider, who wished to remain anonymous, told us the investigation is primarily concerned with the billions in pumped funds meant for the rehabilitation of these state-owned refineries.
"We're probing the funds allocated to the rehabilitation of all three refineries—money released in recent times. All principal officers within that time frame are being summoned. Some have been arrested already, and we're still on the hunt for others. The public wants to know: where did the money go, and why are the refineries still idle?" the source said.
The investigation is far-reaching, including all key players involved in managing the refineries during the relevant period.
Rumors swirl among officials about the discovery of N80 billion in the bank accounts of a former MD. One insider commented, "Massive sums have been uncovered in his accounts. About N80bn has been found so far in his various accounts. The revelations could dwarf those of Emefielegate."
Another official stated, "All three of them are under EFCC scrutiny. It's indeed troubling."
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- The Economic and Financial Crimes Commission (EFCC) has apprehended top officials from Nigeria's refineries in Abuja, allegedly for mismanaging funds worth $2,956,872,622.36 meant for rehabilitation.
- The EFCC is investigating the misallocation of funds, with the Port Harcourt refinery receiving $1,559,239,084.36, Kaduna refinery receiving $740,669,600, and Warri refinery $656,963,938.
- The deposed MD of PHRC, Ibrahim Onoja, and Efifia Chu, former MD of WRPC, are among those under investigation.
- Sources reveal that the EFCC is primarily focusing on funds allocated to the rehabilitation of all three refineries, money disbursed recently, and all principal officers within that time frame are being summoned.
- The EFCC's investigation includes all key players involved in managing the refineries during the relevant period.
- Rumors are circulating about the discovery of N80 billion in the bank accounts of a former MD, with the possibility that the revelations could be larger than those of Emefielegegate.
- The trial of Ex-Power Minister, Saleh Mamman, has been stalled due to the lack of an interpreter to clarify proceedings.
- Tension has arisen as the Nigerian Army engages in a fierce skirmish with ISWAP terrorists in Yobe.
- A wave of controversy sweeps through the PDP as Governor Emmanuel and BoT members consider switching parties to APC, causing political unrest.
