By Ifeanyi Okowa, the immediate past governor of Delta State and former vice-presidential candidate for the Peoples Democratic Party alongside Atiku Abubakar in the recent general elections has been arrested by the Economic and Financial Crimes Commission (EFCC) over allegations of misappropriating resource allocation funds.
The EFCC is investigating Okowa for allegedly diverting N1.3 trillion from the 13 percent oil derivation fund intended for oil-producing states, reportedly over his tenure from 2015 to 2023.
Sources familiar with the case say that the former governor was detained after failing to provide satisfactory answers regarding the allegations of financial misconduct during his administration.
Additionally, Okowa is accused of misusing another N40 billion, allegedly spent on acquiring an 8% equity share in UTM Floating Liquefied Natural Gas (LNG) through one of the country’s major banks.
This investment was reportedly made to float the offshore LNG project, with sources alleging that these transactions were conducted without adequate accountability.
