EFCC arrests ex-NNPCL CFO in $7.2bn refinery probe

Operatives of the Economic and Financial Crimes Commission have arrested a former Chief Financial Officer of the Nigerian National Petroleum Corporation Limited, Umar Isa.

The arrest was in connection with an alleged $7.2bn fraud linked to the rehabilitation of the Kaduna, Warri, and Port Harcourt refineries.

The news had exclusively reported that some officials of the NNPCL were being investigated for the alleged mismanagement of funds earmarked for the overhaul of these facilities.

The total amount under investigation is $2,956,872,622.36.

Specifically, the EFCC is probing the disbursement of $1,559,239,084.36 allocated to the Port Harcourt refinery, $740,669,600 released for the Kaduna refinery, and $656,963,938 approved for the Warri refinery.

Speaking to our correspondent on Monday, a top official in the agency who requested anonymity due to lack of authorisation to speak publicly confirmed Isa’s arrest, adding that he was being investigated for alleged abuse of office, and corruption, among other offences.

“Our operatives have arrested a former Chief Financial Officer of the NNPCL, Umar Ajiya Isa, in connection with an alleged $7.2bn fraud related to the rehabilitation of the Kaduna, Warri, and Port Harcourt refineries.

As CFO, Ajiya oversaw the release of funds for the Turn Around Maintenance of the three refineries.

“All key officials involved in the maintenance and other major NNPCL projects are also under investigation for alleged abuse of office, corruption, diversion of public funds, and kickbacks from contractors.

Another source who confirmed Isa’s arrest disclosed that the EFCC had also detained the former Managing Director of the Warri Refinery, Jimoh Olasunkanmi.

“Yes, it is true. We have arrested Isa. We also have in our custody the former MD of the Warri Refinery, Jimoh Olasunkanmi,” the second source said.

Efforts to reach the EFCC spokesperson, Dele Oyewale, for comments, were unsuccessful as of press time.