The Economic and Financial Crimes Commission (EFCC) has detained Ifeanyi Okowa, former governor of Delta State, on allegations of misappropriating over N1.3 trillion during his tenure from 2015 to 2023. Okowa was taken into custody in Port Harcourt after responding to an EFCC summons. According to sources, the charges involve the alleged diversion of the 13 percent oil derivation fund, earmarked for oil-producing states, as well as the acquisition of substantial personal assets.
In addition to the derivation funds, Okowa is under investigation for reportedly using N40 billion to acquire shares in UTM Floating Liquefied Natural Gas (LNG), a facility under development by UTM Offshore Limited. This investment, allegedly unaccounted for, is believed to be part of a larger pattern of fund misappropriation.
Reports also indicate that Okowa may have diverted funds to purchase properties in Abuja and Asaba. An advocacy group, the Network Against Corruption and Trafficking Initiative (NACAT), had previously petitioned anti-corruption agencies to investigate Delta’s financial management under Okowa’s administration, highlighting unaccounted-for loans totaling N600 billion and a debt profile of N480 billion, alongside numerous unpaid state projects.
Okowa, who was also the vice-presidential candidate for the People’s Democratic Party (PDP) in the 2023 election, has not commented on the charges. His detention has sparked conversations on governance and financial accountability within Delta State, an area historically impacted by wealth disparities due to its oil resources.
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