Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested a former Chief Financial Officer of the Nigerian National Petroleum Corporation Limited (NNPCL), Umar Ajiya Isa, over an alleged $7.2 billion fraud linked to the controversial rehabilitation of the Kaduna, Warri, and Port Harcourt refineries.
Sources within the commission confirmed that the arrest is part of an ongoing probe into the mismanagement of funds earmarked for the turnaround maintenance of Nigeria’s major refineries. The total amount under investigation stands at $2,956,872,622.36, covering disbursements of $1.56 billion for Port Harcourt Refinery, $740.6 million for Kaduna Refinery, and $656.9 million for Warri Refinery.
A senior EFCC official, who spoke on condition of anonymity, said Isa was arrested for alleged abuse of office, diversion of public funds, and corruption during his tenure as CFO.
“As CFO, Ajiya oversaw the release of funds for the refinery rehabilitation projects. Several key officials involved in the project are also under probe for kickbacks and irregular disbursement of public funds,” the source stated.
The EFCC has also arrested Jimoh Olasunkanmi, a former Managing Director of the Warri Refining and Petrochemical Company, as part of the probe.
Others reportedly under investigation include:
Tunde Bakare, current MD of Warri Refinery
Ahmed Adamu Dikko, former MD of Port Harcourt Refinery
Ibrahim Monday Onoja, also a former MD of the Port Harcourt Refinery
As of press time, the EFCC spokesperson, Dele Oyewale, was unavailable for comment.
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