The former Governor of Delta State, Ifeanyi Okowa has been detained by the Economic and Financial Crimes Commission (EFCC) for alleged diversion of N1.3 trillion of the 13 per cent derivation fund from the Federation Account between 2015 and 2023.
Penpushing reports that Okowo was said to have been detained in the facility of the agency on Monday in Port Harcourt, Rivers State, when he reported at the Port Harcourt Directorate of the commission on the invitation of investigators handling his matter.
The former Governor was alleged to have failed to account for the funds and another N40 billion he allegedly claimed to have used to acquire shares in the UTM Floating Liquefied Natural Gas, and allegedly bought N40 billion worth of shares in one of the major banks in Nigeria, representing eight per cent equity, to float the offshore LNG.
Penpushing further reports that the funds were allegedly used for other purposes while the agency in same vein investigating Okowa’s alleged diversion of funds to acquire estates in Asaba, Delta State and Abuja, Federal Capital Territory (FCT).
The spokesperson of the Economic and Financial Crimes Commission Dele Oyewale, when contacted confirmed the detention of the former Governor but declined to give additional details on the allegations.
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