EFCC arrests ex-NNPCL CFO, Warri refinery MD over $7.2bn fraud

The Economic and Financial Crimes Commission (EFCC) has arrested Umar Ajiya Isa, former Chief Financial Officer of the Nigerian National Petroleum Corporation Limited (NNPCL), over an alleged $7.2 billion fraud tied to the rehabilitation of Nigeria’s major refineries.

The arrest is part of an ongoing probe into the alleged mismanagement of funds allocated for the turnaround maintenance of the Kaduna, Warri, and Port Harcourt refineries. According to EFCC sources, Isa is being investigated for alleged abuse of office, corruption, diversion of public funds, and receipt of kickbacks from contractors.

A top official of the anti-graft agency, speaking anonymously, confirmed that Isa played a key role in authorizing payments for the refinery rehabilitation projects during his tenure. “All major figures involved in the projects are under investigation,” the source added.

The EFCC is examining the disbursement of a total of $2.96 billion, comprising $1.56 billion for the Port Harcourt refinery, $740.7 million for Kaduna refinery, and $656.9 million for Warri refinery.

In addition to Isa, the EFCC has also detained the former Managing Director of the Warri Refinery, Jimoh Olasunkanmi. Others reportedly under investigation include Tunde Bakare, MD of Warri Refinery; Ahmed Adamu Dikko, former MD of Port Harcourt Refinery; and Ibrahim Monday Onoja, another former MD of the Port Harcourt facility.

As of press time, efforts to reach EFCC spokesperson Dele Oyewale for official comments were unsuccessful.