Umar Isa, a former chief financial officer of the Nigerian National Petroleum Corporation Limited, has been arrested by Economic and Financial Crimes Commission agents in relation to a purported $7.2 billion scam involving the restoration of the refineries in Kaduna, Warri, and Port Harcourt.
According to an exclusive story by The PUNCH, certain NNPCL officials were under investigation for allegedly misusing monies intended for the renovation of these facilities.
They are looking into $2,956,872,622.36 in total.
In particular, the EFCC is looking into the distribution of $656,963,938 authorized for the Warri refinery, $740,669,600 released for the Kaduna refinery, and $1,559,239,084.36 allotted to the Port Harcourt refinery.
Speaking to our correspondent on Monday, a top official in the agency, who requested anonymity due to a lack of authorisation to speak publicly, confirmed Isa’s arrest and said he was being investigated for alleged abuse of office, corruption, among other offences.
“Our operatives have arrested a former Chief Financial Officer of the NNPCL, Umar Ajiya Isa, in connection with an alleged $7.2 billion fraud related to the rehabilitation of the Kaduna, Warri, and Port Harcourt refineries.
“As CFO, Ajiya oversaw the release of funds for the turnaround maintenance of the three refineries. All key officials involved in the maintenance and other major NNPCL projects are also under investigation for alleged abuse of office, corruption, diversion of public funds, and kickbacks from contractors.
“Other officials involved are Tunde Bakare, MD, Warri Refinery; Ahmed Adamu Dikko, former MD, Port Harcourt Refinery; and Ibrahim Monday Onoja, former MD, Port Harcourt Refinery,” the source stated.
