The Economic and Financial Crimes Commission (EFCC) has arrested Ifeanyi Okowa, the former governor of Delta State, over allegations of massive fraud.

Economic and Financial Crimes Commission (EFCC) arrested Ifeanyi Okowa. Okowa is the former governor of Delta State. The arrest was over allegations of massive fraud. The EFCC took this action. Here are the key details:

The Economic and Financial Crimes Commission (EFCC) has arrested Ifeanyi Okowa, the former governor of Delta State, over allegations of massive fraud. Here are the key details:

1. Okowa was arrested on Monday, November 4, 2024, at the EFCC’s Port Harcourt office in Rivers State.
2. He is accused of allegedly diverting approximately N1.3 trillion from the 13% derivation fund allocated to Delta State between 2015 and 2023 during his tenure as governor.
3. The EFCC is investigating claims that Okowa used his position as governor to acquire assets worth up to N1.3 trillion.
4. Some of the alleged acquisitions include significant shares in UTM Floating Liquefied Natural Gas Company and other investments in the oil sector18.
5. Okowa reportedly bought N40 billion worth of shares in a major bank, representing 8% equity to float an offshore LNG project3.
6. The former governor is also being investigated for allegedly diverting funds to acquire estates in Abuja and Asaba, Delta State3.
7. Okowa served as the governor of Delta State from 2015 to 2023 and was the vice-presidential candidate for the People’s Democratic Party (PDP) in the 2023 general election34.
8. The EFCC spokesperson, Dele Oyewale, has confirmed Okowa’s detention138.

This arrest is part of the EFCC’s ongoing efforts to investigate and prosecute high-profile corruption cases involving former government officials in Nigeria