Operatives of the Economic and Financial Crimes Commission (EFCC) have detained a former governor of Delta State, Ifeanyi Okowa, for the alleged diversion of N1.3 trillion of the 13 per cent derivation fund from the Federation Account between 2015 and 2023.
A source reveals that Mr Okowa was detained on Monday, 4 November, in Port Harcourt, Rivers State, when he reported at the Port Harcourt Directorate of the EFCC on the invitation of investigators handling his matter.
The former governor was alleged to have failed to account for the funds and another N40 billion he allegedly claimed to have used to acquire shares in the UTM Floating Liquefied Natural Gas.
Mr Okowa allegedly bought N40 billion worth of shares in one of the major banks in Nigeria, representing eight per cent equity, to float the offshore LNG.
The funds were allegedly used for other purposes.
The anti-graft agency is also investigating the former governor’s alleged diversion of funds to acquire estates in the nation’s capital, Abuja, and Asaba in Delta State.
He is being held at the EFCC holding facility in Port Harcourt.
When contacted on Monday evening, the EFCC spokesperson, Dele Oyewale, confirmed Mr Okowa’s detention but declined to give details.
| Posted: at | |
Holopid
gogoman
Dopybadass
kp45
SweetDaddy1
TRENDING GISTS 
Arsenal v Manchester United: English Premier League Match,Team News,Goal Scorers and Stats
Niger Govt Denies Bandits’ Attack On Gov Bago’s Convoy
Fire Razes INEC Office In Delta, Destroy Election Materials
Man Mourns Girlfriend Who Died Two Months After He Gushed About Her On X
Ex- Footballer Accused Of Killing His Wife After She Fell To Her Death From A 7th Floor Balcony
PHOTOS: President Tinubu Meets South African President, Ramaphosa In Cape Town
Veteran Actor, Jide Kosoko Celebrates Granddaughter At One
Wizkid Makes History, Becomes 1st African Artist To Perform At British Fashion Awards