In a major development, operatives of the Economic and Financial Crimes Commission (EFCC) have arrested Umar Ajiya Isa, the former Chief Financial Officer of the Nigerian National Petroleum Corporation Limited (NNPCL). His arrest is directly tied to an ongoing investigation into an alleged $7.2 billion fraud linked to the rehabilitation of Nigeria’s Kaduna, Warri, and Port Harcourt refineries.
Massive Rehabilitation Funds Under Scrutiny
The EFCC is currently investigating a total of $2,956,872,622.36 disbursed for the Turn Around Maintenance (TAM) of the refineries. Specifically, the Port Harcourt refinery received $1,559,239,084.36; the Kaduna refinery got $740,669,600; and the Warri refinery was allocated $656,963,938. Despite these massive sums, none of the facilities has returned to full operational status, prompting widespread calls for accountability.
Top EFCC Officials Confirm Arrest and Ongoing Investigation
Speaking under the condition of anonymity, a top EFCC official confirmed that Umar Isa had been taken into custody. The source explained that Isa, during his tenure as CFO, supervised the release of funds designated for the TAM projects. Consequently, the agency is now investigating him for alleged abuse of office, corruption, and diversion of public funds.
“Our operatives have arrested Umar Ajiya Isa for his role in the release of funds allocated to refinery maintenance projects. Investigations also cover kickbacks, illicit payments, and misappropriation tied to these contracts,” the official disclosed.
EFCC Widens Probe, Arrests Former Warri Refinery MD
Additionally, the EFCC has detained Jimoh Olasunkanmi, the former Managing Director of the Warri Refinery. A second official within the agency confirmed his arrest, noting that the probe is expanding to include all individuals involved in the rehabilitation contracts.
“We now have both Umar Isa and Jimoh Olasunkanmi in custody,” the second official confirmed. “Other officials and contractors are also under active investigation.”
Refinery Projects Plagued by Delays and Inefficiency
The Nigerian government had previously committed billions of dollars to revive its three main refineries through the TAM initiative. Although these projects were projected to restore domestic refining capacity and reduce dependence on imported petroleum products, the results have been dismal.
Despite the disbursement of funds, the refineries remain non-functional, and contractors have failed to meet deadlines. This has raised significant concerns about transparency, value for money, and overall project management.
Calls for Transparency and Public Accountability Intensify
With news of the arrests spreading, pressure is mounting on the NNPCL and the federal government to provide full transparency. Civil society groups, energy analysts, and public policy experts have called for a forensic audit of all financial transactions linked to refinery maintenance contracts.
They argue that without meaningful accountability, corruption will persist, and Nigeria’s energy infrastructure will continue to suffer. According to these groups, the EFCC’s ongoing investigation must lead to not just arrests but successful prosecutions and the recovery of stolen funds.
Silence from EFCC Spokesperson as Investigation Continues
Efforts to reach the EFCC spokesperson, Dele Oyewale, for an official statement were unsuccessful as of press time. However, sources within the commission indicated that a formal briefing might follow once the agency concludes the preliminary phase of its investigation.
Broader Implications for NNPCL and Nigeria’s Oil Sector
This unfolding scandal has broad implications for NNPCL, which recently transitioned into a limited liability company with a renewed mandate to operate transparently and profitably. However, critics argue that systemic issues remain unresolved, particularly in project execution and fiscal accountability.
Energy industry stakeholders warn that continued financial misconduct could jeopardize future investments and undermine public confidence in the sector.
EFCC Pledges to Pursue All Leads
According to insiders, the EFCC is currently reviewing bank statements, procurement documents, and internal communications related to the refinery projects. Investigators are also expected to question contractors, consultants, and former senior officials who had direct roles in awarding and executing contracts.
The anti-graft agency has reiterated its commitment to follow the evidence and bring all responsible parties to justice. Furthermore, the EFCC aims to recover misappropriated funds and restore public confidence in Nigeria’s anti-corruption framework.
Conclusion: Public Demands Results, Not Just Arrests
Although the arrests of Umar Isa and Jimoh Olasunkanmi mark a significant milestone, the Nigerian public is demanding more than token accountability. Citizens expect convictions, asset recovery, and a firm commitment to preventing future abuse of public resources.
As the investigation continues to unfold, the EFCC faces a critical test of its effectiveness. Nigerians—and indeed the global community—are watching to see whether this case will mark a turning point in the fight against corruption in the oil and gas sector.
