The Economic and Financial Crimes Commission (EFCC) has seized the international passport of former Delta State Governor, Ifeanyi Okowa, who was arrested on November 4, 2024, over allegations of diverting a N1.3 trillion oil derivation fund. The substantial sum allegedly represents funds received from the Federation Account between 2015 and 2023. Okowa is also accused of failing to account for the funds and allegedly using N40 billion to acquire shares in UTM Floating Liquefied Natural Gas and a major Nigerian bank.
Sources disclosed that Okowa visited the EFCC’s Port Harcourt office voluntarily and was subsequently detained, only to be released last Wednesday upon meeting bail conditions, including surrendering his travel documents. This measure, according to an EFCC official, aims to prevent Okowa from fleeing as investigations continue.
Responding to the allegations, Okowa dismissed claims of misappropriating N1.3 trillion as “laughable and totally false.” In a statement, he attributed the accusations to political motives and affirmed his readiness to cooperate with the EFCC’s investigation, maintaining his innocence. He recounted the financial challenges during his administration’s early years and highlighted the projects achieved under his governance, particularly in under-served areas.
He further asserted, “I am not against investigation, as the EFCC has its duty to perform. I am confident in the integrity of our administration and believe the truth will prevail.”
Meanwhile, the Urhobo Progress Union (UPU), represented by President-General Chief Ese Owe, visited Okowa to express support and gratitude for his role in facilitating Governor Sheriff Oborevwori’s election, acknowledging the former governor’s long-standing backing for the Urhobo community.
