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The Economic and Financial Crimes Commission (EFCC) has taken measures to restrict former Delta State governor Ifeanyi Okowa’s international travel, withholding his passport as part of an ongoing investigation into financial activities during his tenure.
Ifeanyi Okowa, the former governor of Delta State, was detained by the Economic and Financial Crimes Commission (EFCC) on November 4, 2024, in connection with allegations of misappropriating N1.3 trillion. This substantial amount represents the 13 percent derivation fund allocated from the federation account to the state over an eight-year period, from 2015 to 2023.
Beyond the initial allegations, Okowa is also under scrutiny for not disclosing a detailed report on the allocation of the funds. He is additionally accused of spending an extra N40 billion on shares in UTM Floating Liquefied Natural Gas, a transaction he reportedly claimed was beneficial to the state.
Okowa is further accused of using N40 billion to acquire an eight percent equity stake in one of Nigeria’s leading banks. This investment was allegedly intended to secure financing for the offshore LNG project, contributing to the development of UTM Floating Liquefied Natural Gas.
As per information from sources within the commission, Okowa had visited the EFCC office in Port Harcourt, Rivers State, where he was arrested by the agency’s officials and taken into custody for further questioning.
A source privy to the matter but not permitted to speak with journalists said Okowa had been released since last week Wednesday, after meeting his bail conditions.
The source said one of the conditions was to submit his travel documents with the agency, pending the conclusion of the matter.
“Okowa is no longer in our custody. He was released last Wednesday after meeting his bail conditions, which include depositing his travel documents with the commission, pending the conclusion of our investigations of the allegations against him.
“The sum allegedly is too huge to take risks. And what we have done is not out of place. This is to prevent anyone under investigation from jumping the bail he/she had been granted,” he said.
Numerous attempts to reach the EFCC’s spokesperson, Dele Oyewale, via phone were unsuccessful. Additionally, he had not responded to the message sent regarding the issue at the time of filing this report.
Read also: APC Hails Arrest Of Okowa By EFCC Over Embezzlement
Addressing the charges brought against him, Okowa vehemently denied the claim that he had diverted N1.3 trillion in oil derivation funds, describing the accusation as not only preposterous but also entirely untrue.
Speaking when he received the national leadership of Urhobo Progress Union, led by its President General, Chief Ese Owe, on a solidarity visit at his residence in Asaba, on Tuesday, Okowa said he was not worried by the EFCC invitation.
During a solidarity visit from the national leadership of the Urhobo Progress Union, led by Chief Ese Owe, at his Asaba residence on Tuesday, Okowa addressed the EFCC invitation for the first time. He reassured his visitors, expressing that he had no concerns and was certain he would be cleared of any wrongdoing.
Through a statement signed by his Chief Press Secretary, Olisa Ifejika, the former governor explained that the petitioners were driven by trivial political motives.
Nevertheless, he emphasized that his support for Governor Sheriff Oborevwori remained steadfast, with a continued focus on advancing the mandate freely given by the people of Delta.
“It was a petition written several months ago, but unfortunately, with the politics of our time, some people decided to ensure that Okowa must be invited by the EFCC.
“People are genuinely uncomfortable about Okowa and I was actually invited and I went there by myself and the first thing I saw was that they said I misappropriated N1.3tn. I said, do you know the kind of money you are talking about?
“To successfully take N1.3tn, it means you have to be taking between N16bn and N20bn every month into your pocket. I don’t even know if the President of this country will be able to do that, not to talk of the governor of Delta State.
“They have forgotten that the first in three years we came into office – 2015, 2016 and 2017 – the money that was coming into the state was not even enough to pay salaries at all.
“Some local governments like Ethiope East were owing as much as 15 months salaries and even in the state here, some people were getting half salaries.
