EFCC detains Ifeanyi Okowa for failure to account over diversion of N1 3 trillion derivation fund
EFCC detains Ifeanyi Okowa for failure to account over diversion of N1 3 trillion derivation fund
The immediate past governor of Delta State and running mate to Atiku Abubakar in the 2023 presidential election, Ifeanyi Okowa has been detained by the Economic and Financial Crimes Commission
He was arrested on the allegation of diverting N1 3 trillion in the 13 percent derivation funds from the federation account between 2015 and 2023.
Recall that 13 percent derivation funds are funds meant for oil producing states but the former governor was said to have allegedly failed to account for the funds.
The PDP presidential running mate is accused of using public funds to acquire private estates in Abuja and Asaba.
Some of the alleged misuses of funds include acquiring shares in UTM Floating Liquefied Natural Gas Company and investing N40 billion in one of Nigeria’s major banks to launch an offshore LNG project. Additionally, Okowa is accused of using public funds to acquire estates in Abuja and Asaba, Delta State.
Okowa, who was the vice-presidential candidate of People’s Democratic Party (PDP) in the 2023 general elections, was detained on November 4, 2024, after reporting to the EFCC’s Port Harcourt Directorate in Rivers State. The EFCC’s spokesman, Dele Oyewale, confirmed Okowa’s detention.
