When the Economic and Financial Crimes Commission arrested Ifeanyi Okowa on Monday, it was because he was suspected of stealing N1.3tn from the derivation fund.
Between 2015 and 2023, the N1.3trn was a 13% withdrawal fund from the union account.
Sources inside the commission say that Okowa was at the EFCC office in Port Harcourt, Rivers State, when he was nabbed.
One of the people said, “Okowa was at our office in Port Harcourt because investigators who are looking into the charges against him asked him to be there.” He was then put in jail.
Another source said, “He was also accused of not giving proper accounts for the money and the extra N40bn he supposedly said he used to buy shares in UTM Floating Liquefied Natural Gas.”
“He is also said to have bought N40bn worth of shares in one of the country’s biggest banks, which gives him 8% of the offshore LNG.” It was said that the money was used for something else.
“Investigators are also looking into how the former governor used stolen money to buy homes in Abuja and Asaba in Delta State.”
He is being held at the Port Harcourt EFCC detention center.
When asked, Dele Oyewale, a spokesperson for the EFCC, confirmed that he had been arrested but refused to say anything else about it.
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