Former Delta State Governor Okowa faces N1.3tn fraud allegations as EFCC seizes his passport, initiating a high-profile investigation in Nigeria.
The Economic and Financial Crimes Commission (EFCC) has withheld the international passport of former Delta State Governor, Ifeanyi Okowa, following his arrest on 4 November 2024.
Okowa faces allegations of diverting N1.3 trillion, a 13 per cent oil derivation fund from the federation account, accrued between 2015 and 2023.
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Additionally, he is accused of failing to account for an extra N40 billion purportedly used to acquire shares in UTM Floating Liquefied Natural Gas (LNG) and an equity stake in a major Nigerian bank.
Okowa’s arrest occurred at the EFCC’s Port Harcourt office, where he was later released on bail, conditional upon the surrender of his travel documents to the commission.
An EFCC source, unauthorised to speak officially, disclosed that withholding Okowa’s passport aims to ensure compliance with the investigation process.
“The sum allegedly involved is too substantial to overlook. Retaining travel documents is standard procedure to prevent individuals under investigation from absconding,” the source stated. Calls to EFCC spokesperson, Dele Oyewale, went unanswered at the time of this report.
Addressing the allegations for the first time since his release, Okowa dismissed the claims as “laughable” and asserted his willingness to cooperate fully with the EFCC.
Speaking to a delegation from the Urhobo Progress Union (UPU) at his Asaba residence on Tuesday, he highlighted the improbability of the accusations, emphasising that Delta State’s revenues between 2015 and 2017 barely covered salaries.
“To embezzle N1.3 trillion would require diverting N16-20 billion monthly. Such amounts are implausible for a state governor,” Okowa said, adding that Delta State was one of the highest salary-paying states, with a monthly payroll exceeding N11 billion due to its 56,000 employees.
Okowa attributed the allegations to political motivations and reassured his supporters of his integrity in handling state finances, expressing confidence that a thorough investigation would vindicate him.
“The petition is politically motivated, but I respect the EFCC’s duty to investigate. I am confident that the facts will clear any doubts,” he remarked.
The former governor further commended his successor, Governor Sheriff Oborevwori, for continuing Delta State’s development agenda and pledged ongoing support to his administration.
Okowa thanked the UPU, led by President-General Chief Ese Owe, for its solidarity and commitment to equity, noting the Union’s significant backing during his time in office.
Chief Ese Owe reciprocated Okowa’s gratitude, stating that the UPU’s visit aimed to acknowledge Okowa’s support in ensuring Oborevwori’s successful election as Delta State governor.
