- Safiu Kehinde
The Economic and Financial Crimes Commission (EFCC) has arrested former Delta state governor, Ifeanyi Okowa, over alleged diversion of N1.3 trillion fund from the federation account between 2015 and 2023.
Okowa was reportedly arrested on Monday in Port Harcourt, Rivers State after presenting himself at the Port Harcourt Directorate of the EFCC on the invitation of investigators handling his matter.
The former governor and running mate of 2023 People Democratic Party’s Presidential candidate, Atiku Abubakar, was alleged to have failed to render accounts of the funds as well as another N40 billion he allegedly claimed he used to acquire shares in UTM Floating Liquefied Natural Gas.
Okowa was accused of buying shares worth N40 billion in one of the major banks in the country representing 8% equity to float the offshore LNG.
However, the funds were alleged to be used for other purposes.
In the same vein, ivestigators are also investigating the diversion of funds by the former governor to acquire estates in Abuja and Asaba in Delta state.
He is currently being held at the EFCC holding facility in Port Harcourt.