In a major development, the Economic and Financial Crimes Commission (EFCC) has taken former Delta State governor, Senator Ifeanyi Okowa, into custody. The arrest, which took place in Port Harcourt, Rivers State, is part of an investigation into the alleged misappropriation of state funds during his administration from 2015 to 2023.
According to sources familiar with the case, Okowa was invited by the EFCC to answer questions related to the management of Delta State’s finances. Investigators are focusing on the alleged diversion of N1.3 trillion from the 13 percent derivation fund, which is designated to support development in Nigeria’s oil-producing states. These funds are provided to oil-rich regions to drive economic growth and enhance local infrastructure.
Beyond this substantial amount, the former governor is reportedly under investigation for an additional N40 billion, which was allegedly used to acquire shares in UTM Floating Liquefied Natural Gas, a venture led by UTM Offshore Limited and located in Akwa Ibom State. Okowa is suspected of using state resources for this investment, and authorities are seeking clarity on the source of funds and their allocation.
Further allegations include claims that Okowa may have diverted funds to acquire real estate in Abuja, Nigeria’s capital, and in Asaba, Delta State’s capital. While details on these transactions are still emerging, the EFCC is looking into potential misuse of public resources to purchase these properties.
Okowa, who served two terms as governor and was succeeded by Sheriff Oborevwori in May 2023, is currently held at the EFCC’s Port Harcourt facility as investigations proceed. The case has raised significant public interest, with calls for transparency and accountability in handling state funds, especially in resource-rich regions like Delta State.
The EFCC’s investigation is ongoing, and further updates are expected as they examine the full extent of the former governor’s financial dealings during his tenure.
