EFCC arrests ex-Delta Gov Okowa for alleged fraud
Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested former Delta State Governor Ifeanyi Okowa for allegedly diverting N1.3 trillion in 13% derivation funds from the federation account between 2015 and 2023.
An EFCC source confirmed to Channels Television on Monday that former Governor Ifeanyi Okowa was arrested on November 4, 2024, in Port Harcourt, Rivers State.
His arrest occurred when he reported to the Port Harcourt Directorate of the EFCC following an invitation from investigators.
Okowa is accused of failing to account for the N1.3 trillion in 13% derivation funds, as well as an additional N40 billion he allegedly claimed to have used to purchase shares in UTM Floating Liquefied Natural Gas.
Specifically, he is alleged to have acquired N40 billion worth of shares in a major bank, representing 8% equity in the offshore LNG venture, with claims that the funds were diverted for other purposes.
Investigators are also examining the former governor’s alleged diversion of funds to purchase properties in Abuja and Asaba, Delta State. Okowa is currently being held at the EFCC facility in Port Harcourt.
He previously served as the running mate to Atiku Abubakar, the presidential candidate of the Peoples Democratic Party (PDP) in the 2023 election.
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