He was arrested on Monday, November 4, 2024, in Port Harcourt, Rivers State, after accepting the anti-graft agency’s invitation.
EFCC Arrests Former Delta Governor Okowa For Alleged Fraud
The Economic and Financial Crimes Commission (EFCC) has arrested former Delta State Governor Ifeanyi Okowa for allegedly diverting N1.3 trillion in 13% derivation funds from the federation account between 2015 and 2023.
On Monday, an EFCC source confirmed to Channels Television that the former governor had been arrested.Okowa was arrested on Monday, November 4, 2024, in Port Harcourt, Rivers State, after reporting to the EFCC’s Port Harcourt Directorate at the invitation of investigators handling his case.The former governor was accused of failing to account for the funds, as well as another N40 billion, which he claimed he used to purchase shares in UTM Floating Liquefied Natural Gas.
Specifically, Okowa allegedly purchased N40 billion in shares of one of the country’s major banks, representing 8% equity in the offshore LNG project. The funds were alleged to have been used for other purposes.
Investigators are also looking into the former governor’s diversion of funds to acquire estates in Abuja and Asaba, Delta state.He is being held at the EFCC detention centre in Port Harcourt.Okowa served as Atiku Abubakar’s running mate in the 2023 presidential election for the Peoples Democratic Party (PDP).
