The Economic and Financial Crimes Commission (EFCC) has arrested the immediate-past Governor of Delta State, Senator Ifeanyi Okowa, over allegations bordering on diversion of derivation funds to the tune of N1. 3 trillion.
Highly-placed sources, who spoke in confidence with New Telegraph, said the funds were allegedly diverted from the Federation Account between 2015 and 2023, when Okowa held away aa the Chief executive of the oil-rich state.
The management of the 13 per cent derivation funds accruing to oil-beqring states in the South South geo-political entity, has continued to generate reactions, against the backdrop of the gaps in infrastructure, and human capital development.
One of the sources, who spoke on the condition of anonymity, disclosed that the medical doctor-turned politician was apprehended yesterday in Port Harcourt, the Rivers State capital.
‘The former Governor of Delta State, Dr. Ifeanyi Okowa, was arrested on Monday, November 4, 2024 in Port Harcourt.
“He was actually held upon honouring an invitation to appear at the Port Harcourt Directorate of the Anti-Graft agency.
“Operatives of the directorate are the ones conducting the investigation into the alleged fraud perpetrated by the former Governor”, he said.
Another impeccable source, who spoke in similar vein, noted thus: “The former influential governor is answering questions on his alleged failure to render accounts of the funds, including another N40 billion he allegedly claimed he used to acquire shares in UTM Floating Liquefied Natural Gas.
“To be specific, the Delta-born politician allegedly bought shares worth N40 billion in one of the major banks in the country, representing 8% equity to float the offshore LNG.
“The funds were alleged to be used for other purposes.
“Investigators are also investigating the diversion of funds by the former governor to acquire estates in Abuja and Asaba in Delta state”.
When contacted, the Head of Media and Publicity of the EFCC, Dele Oyewale, confirmed the development.
He, however, refused to provide details of the case.
