Former Delta State Governor Ifeanyi Okowa remains in the custody of the Economic and Financial Crimes Commission (EFCC) in Port Harcourt, Rivers State, for a second consecutive night following his detention on Monday over allegations of financial mismanagement and corruption. Okowa, who served as the running mate to PDP presidential candidate Atiku Abubakar in the 2023 election, had been invited by the EFCC in connection with the alleged diversion of N1.3 trillion in state funds.
According to sources, the EFCC is investigating multiple allegations against Okowa, including unaccounted funds used for private investments. Okowa is accused of channeling N40 billion into shares in UTM Floating Liquefied Natural Gas (LNG) and another substantial sum into shares in a prominent bank. Investigators are also examining whether state funds were used for property acquisitions in Abuja and Asaba, Delta State’s capital.
An EFCC source confirmed, “The quantum of allegations and the amount involved in this case are significant, and we want him to respond thoroughly to these accusations. Earlier today, he was presented with the claims as part of the ongoing investigation.”
The Delta State chapter of the All Progressives Congress (APC) has expressed support for the EFCC’s actions, calling it a positive step in Nigeria’s anti-corruption efforts. In a statement, Delta APC Publicity Secretary Valentine Onojeghuo urged the EFCC to extend similar investigations to other former governors and public officials, emphasizing that accountability should apply across political lines.
“We wholeheartedly welcome the arrest of the former governor, who oversaw one of the most troubling cases of financial mismanagement during his tenure,” the APC statement read. “His administration allegedly diverted significant resources to personal ventures, including setting up a bank, financing a failed presidential bid, and securing a successor.”
Onojeghuo further highlighted Okowa’s legacy of debt accumulation, earning him the nickname “Borrow Borrow Governor.” He criticized the former governor’s spending decisions, noting that despite substantial federal allocations, Delta State has little to show, with even basic infrastructure projects deteriorating rapidly.
Okowa’s detention by the EFCC is seen as a warning to public officials, signaling that impunity is no longer tolerated and that no position or political affiliation is above the law. The ongoing investigation into Okowa’s financial dealings underscores a broader commitment to rooting out corruption and ensuring transparency in governance.
