The Economic and Financial Crimes Commission has launched a sweeping investigation into former executives of the Nigerian National Petroleum Company Limited, as well as recently dismissed Managing Directors of the Port Harcourt, Warri, and Kaduna refineries, over the alleged misappropriation of approximately $2.96 billion allocated for the rehabilitation of the three facilities.
A senior official of the EFCC, who spoke on the condition of anonymity, confirmed that the probe is targeting several top-level individuals involved in the controversial disbursements. The funds were designated for short-term maintenance aimed at reviving the refineries, which have been beset by operational inefficiencies for years.
Preliminary findings from the investigation indicate that the EFCC is examining disbursements of $1.56 billion for the Port Harcourt refinery, $740 million for the Kaduna refinery, and $657 million for the Warri refinery.
According to the EFCC official, several individuals have already been arrested in connection with the probe. Among them are former Managing Directors Ibrahim Onoja of the Port Harcourt Refining Company and Efifia Chu of the Warri Refining and Petrochemical Company. One of the ex-MDs is said to have been in EFCC custody for over a week, following the discovery of significant sums of money allegedly hidden in his bank accounts.
The unfolding revelations have sparked widespread concern, with some insiders suggesting that the magnitude of this scandal could surpass that of the so-called “Emefielegate” — a reference to the corruption saga involving former Central Bank Governor Godwin Emefiele.
As of the time of filing this report, EFCC spokesperson Dele Oyewale was unavailable for comment on the ongoing investigation.
However, the anti-graft commission has formally written to the NNPCL, requesting access to detailed financial records, including documents covering emoluments, allowances, and other expenditures tied to the refinery rehabilitation project. The request is intended to assist the EFCC in tracing the flow of funds and identifying possible instances of diversion or misuse.
