The Economic and Financial Crimes Commission (EFCC) has uncovered N80 billion in multiple bank accounts linked to one of the recently dismissed managing directors of the Nigerian National Petroleum Corporation Limited (NNPCL) refineries. This discovery is part of an ongoing investigation into the alleged misappropriation of $2.96 billion intended for refinery rehabilitation.
LEADERSHIP recalls that the EFCC arrested former managing directors and senior officials from the three major state-owned refineries: Port Harcourt Refining Company (PHRC), Warri Refining and Petrochemical Company (WRPC), and Kaduna Refining and Petrochemical Company (KRPC).
The NNPCL had previously fired the managing directors of these refineries. Several other senior officials, including the former chief of the National Petroleum Investment Management Services, Bala Wunti, were also dismissed. Additionally, officials close to retirement were asked to leave their positions.
The EFCC is currently investigating the disbursement and usage of $1,559,239,084.36 for the Port Harcourt refinery, $740,669,600 for the Kaduna refinery, and $656,963,938 for the Warri refinery, totaling $2,956,872,622.36.
Among those in EFCC custody are the former Managing Director of PHRC, Ibrahim Onoja, and his counterpart at WRPC, Efifia Chu. A senior EFCC official, who requested anonymity due to the sensitivity of the case, revealed on Saturday that the arrests were part of a broader investigation into how billions of dollars may have been siphoned from national coffers under the pretense of quick-fix refinery maintenance.
“We are investigating the money that was released for the rehabilitation of all three refineries—money disbursed in recent times. All the principal officers within that time frame are being invited,” the source said. “Some have been arrested already, and we are still on the lookout for others. Nigerians are interested in seeing our refineries work. We are asking: where is the money, and what has happened to the refineries?”
An insider at NNPCL disclosed that one of the sacked MDs had been with the EFCC for about a week. “Large amounts have been discovered in his accounts. About N80bn has so far been found. The way things are going, it may be bigger than the Emefielegate scandal.”
Further confirmation came from another official, who simply stated, “All the three of them are being investigated by the EFCC. It is indeed sad!” Meanwhile, leaked official documents show that the EFCC’s investigation has extended to the former Group Chief Executive Officer of NNPCL, Mele Kyari. In a letter dated April 28, 2025, titled ‘Investigation Activities: Request for Information,’ addressed to NNPCL’s current leadership, the EFCC named Kyari and 13 other senior executives in connection with alleged abuse of office and financial misappropriation.
The EFCC has requested NNPCL to provide certified true copies of the emoluments and allowances of the listed officials, including those already retired. Other individuals under investigation include Abubakar Yar’Adua, Isiaka Abdulrazak, Umar Ajiya, Dikko Ahmed, Ademoye Jelili, Mustapha Sugungun, Kayode Adetokunbo, Efiok Akpan, Babatunde Bakare, Jimoh Olasunkanmi, Bello Kankaya, and Desmond Inyama.
“The commission is investigating a case of abuse of office and misappropriation of funds in which the underlisted officials of your organisation featured,” the document stated. “In view of the above, you are kindly requested to furnish certified true copies of their emoluments and allowances, including those of those who have retired and no longer work with your organisation,” the EFCC instructed the NNPCL. As of the time of this report, the NNPCL’s spokesperson, Olufemi Soneye, had not responded.
Source : https://leadership.ng/
