The Economic and Financial Crimes Commission (EFCC) has reportedly arrested the immediate past governor of Delta State, Senator Ifeanyi Okowa.
According to THE WILL, Okowa was taken into custody in Port Harcourt, Rivers State(Zonal Office) over alleged misappropriation and embezzlement of billions of naira belonging to Delta state during his tenure as governor.
The EFCC is yet to officially confirm the arrest of the former governor who presided over the state from May 2015 to May 2019.
Recall that Okowa was the vice presidential candidate of the Peoples Democratic Party in the 2023 general elections.
Okowa, a trained medical doctor served as the senator representing Delta North from 2011 to 2019. Before then, he served as the Secretary to the Delta State Government.
UPDATE
According to sources within the commission, Okowa is being interrogated over N1.3 Trillion Derivation funds.
“Okowa was at our Port Harcourt office following an invitation from investigators probing the allegations against him. He was then arrested. The commission is investigating him regarding the N1.3 trillion 13% derivation fund from the federation account between 2015 and 2023.”
“He is also accused of failing to account for the funds, as well as another N40 billion he allegedly claimed was used to acquire shares in UTM Floating Liquefied Natural Gas. He reportedly bought shares worth N40 billion in one of the country’s major banks, representing an 8% equity stake, to support the offshore LNG project.”
The funds are alleged to have been misappropriated for other purposes.
