- Nigeria’s EFCC has arrested several sacked managing directors and top officials over alleged mismanagement of $3 billion for rehabilitation projects.
- Former heads of Port Harcourt Refining Company, Warri Refining and Petrochemical Company, and Kaduna Refining and Petrochemical Company have been arrested amid investigations into suspected corruption and fund diversion.
- The EFCC is investigating the disbursement and utilization of $2,956,872,622.36 allocated for refurbishment of three facilities, with $1,559,239,084.36 allocated to Port Harcourt, $740,669,600 to Kaduna, and $656,963,938 to Warri.
The Economic and Financial Crimes Commission (EFCC) has detained several former managing directors and senior officials linked to Nigeria’s key oil refineries amid an investigation into the alleged mismanagement of nearly $3 billion allocated for their rehabilitation.
According to findings by Saturday PUNCH, the anti-graft agency is examining how $2,956,872,622.36, earmarked for overhauling the Port Harcourt, Warri, and Kaduna refineries, was spent. The breakdown of the funds includes $1.56 billion for the Port Harcourt facility, $740 million for Kaduna, and nearly $657 million for the Warri plant.
Among those reportedly in EFCC custody are Ibrahim Onoja, former MD of the Port Harcourt Refining Company (PHRC), and Efifia Chu, former head of the Warri Refining and Petrochemical Company (WRPC). The identity of the former Kaduna Refinery MD remains unconfirmed at press time.
The crackdown follows revelations from insiders within the Nigerian National Petroleum Company Limited (NNPCL) that approximately N80 billion was found in a bank account linked to a recently dismissed refinery chief, suggesting large-scale financial impropriety.
Energy experts and industry observers have slammed NNPCL for allegedly misleading the public about the operational status of the refineries. Despite claims that the Port Harcourt and Warri facilities resumed operations in late 2024, output has been dismal, raising red flags over the success of the refurbishment projects.
With pressure mounting, stakeholders have called for a full audit of the rehabilitation program and urged the federal government to ensure that all responsible individuals are held accountable.
The EFCC has not yet issued a formal statement, but sources close to the investigation indicate that more arrests and possible prosecutions are likely in the coming days.
