EFCC Arrests Former MD Of NNPCL Ex-Financial Officer, Ajiya Isa Over $7.2billion Fraud

The Economic and Financial Crimes Commission (EFCC) has arrested a former Chief Financial Officer of the Nigerian National Petroleum Company Limited (NNPCL), Umar Ajiya Isa, in connection with a massive $7.2billion fraud tied to the failed rehabilitation of Nigeria’s major refineries.

The anti-graft agency confirmed on Monday that Isa is being interrogated over the disbursement and alleged mismanagement of billions of dollars allocated for the turnaround maintenance of the Kaduna, Warri, and Port Harcourt refineries.

According to EFCC investigators, a total of $2,956,872,622.36 is currently under scrutiny, including $1,559,239,084.36 released for the Port Harcourt refinery, $740,669,600 for the Kaduna refinery, and $656,963,938 for the Warri refinery.

A senior EFCC official, who spoke on condition of anonymity, said: “Our operatives have arrested a former Chief Financial Officer of the NNPCL, Umar Ajiya Isa, in connection with an alleged $7.2 billion fraud related to the rehabilitation of the Kaduna, Warri, and Port Harcourt refineries.

“As CFO, Ajiya oversaw the release of funds for the turnaround maintenance of the three refineries. All key officials involved in the maintenance and other major NNPCL projects are also under investigation for alleged abuse of office, corruption, diversion of public funds, and kickbacks from contractors.

“Other officials involved are Tunde Bakare, MD of Warri Refinery; Ahmed Adamu Dikko and Ibrahim Monday Onoja, both former MDs of the Port Harcourt Refinery.”

Another EFCC source confirmed the detention of the former Managing Director of the Warri Refinery, Jimoh Olasunkanmi, in connection with the ongoing investigation.

“Yes, it is true. We have arrested Isa. We also have in our custody the former MD of the Warri Refinery, Jimoh Olasunkanmi,” the source said.

Multiple attempts to reach EFCC spokesperson, Dele Oyewale, for official comments were unsuccessful as of the time of filing this report.

In April, the Economic and Financial Crimes Commission also arrested some managing directors and top officials of the Port Harcourt Refining Company, Warri Refining and Petrochemical Company, and Kaduna Refining and Petrochemical Company.

The officials were arrested over alleged mismanagement of funds earmarked for the rehabilitation of the facilities. The total amount under investigation is $2,956,872,622.36.

Findings by PUNCH showed that the EFCC is probing the sum of $1,559,239,084.36 allocated to the Port Harcourt refinery, $740,669,600 released for the Kaduna refinery, and $656,963,938 approved for the Warri refinery.

The ex-Managing Director of Port Harcourt Refining Company Ltd is Mr Ibrahim Onoja, while Efifia Chu served as the ex-Managing Director of the Warri Refining and Petrochemical Company Ltd.