Operatives of the Economic and Financial Crimes Commission, EFCC have arrested the former Governor of Delta State, Ifeanyi Okowa for alleged diversion of N1.3trillion 13% derivation fund from the federation account between 2015 and 2023.
Okowa was arrested in Port
Harcourt, Rivers State when he reported at the Port Harcourt Directorate of the
EFCC on the invitation of investigators handling the matter.
The former Governor was alleged
to have failed to render accounts of the funds as well as another 40 billion
naira he allegedly claimed he used to acquire shares in UTM Floating Liquefied
Natural Gas. He is also alleged to have bought shares of 40 billion naira in
one of the major banks in the country representing 8% equity to float the
offshore LNG. The funds were also alleged to be used for other purposes.
Investigators are also
investigating the diversion of funds by the former Governor to acquire estates
in Abuja and Asaba in Delta state.
Okowa is being held at the EFCC
holding facility in Port Harcourt.
He was governor of Delta state
from 2015 to 2023 and was succeeded by Sheriff Oborevwori.
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