Former Delta State Governor Ifeanyi Okowa remains in custody at the Economic and Financial Crimes Commission (EFCC) office in Port Harcourt, marking his second night under detention by the anti-graft agency.
The EFCC detained Okowa after he responded to their invitation on Monday for questioning related to alleged financial misappropriations during his time in office.
Okowa, who served as the running mate for Peoples Democratic Party (PDP) presidential candidate Atiku Abubakar in the 2023 election, faces allegations of diverting N1.3 trillion.
In addition, he is reportedly accused of failing to account for N40 billion purportedly used to acquire shares in UTM Floating Liquefied Natural Gas.
The Delta State chapter of the All Progressives Congress (APC) has expressed support for the EFCC’s actions, viewing the detention as a positive move in Nigeria’s broader fight against corruption.
One of the sources said, “He was also accused of failing to render accounts of the funds as well as another N40bn he allegedly claimed he used to acquire shares in UTM Floating Liquefied Natural Gas.
“He also allegedly bought shares of N40bn in one of the major banks in the country, representing eight per cent equity to float the offshore LNG. The funds were alleged to be used for other purposes.
“Investigators are also investigating the diversion of funds by the former governor to acquire estates in Abuja and Asaba in Delta State.”
However, a source familiar with the matter told our correspondent on Tuesday that the former governor was yet to be released because of the quantum of the allegations against him.
The source added that Okowa was earlier in the day confronted with the allegations.
“We are still keeping him, he is still with us. The investigation is ongoing and earlier, he was confronted with some of the allegations against him.
“We are still keeping him because of the quantum of the allegations and amount involved. We want him to respond to the allegations,” the source said.
The Delta APC State Publicity Secretary, Valentine Onojeghuo, in a statement on Tuesday, urged the EFCC to continue its investigation into the financial dealings of other former governors and public officials.
The statement partly read: “We in the APC wholeheartedly welcome the arrest of the former governor, who oversaw one of the most concerning cases of financial mismanagement during his eight-year tenure.
“His administration allegedly funnelled significant state resources into personal ventures, including establishing a bank, financing a failed presidential ambition, and supporting the controversial imposition of a successor.
“The arrest serves as a caution to all public officeholders, affirming that the era of impunity is over and that no one, irrespective of position or political affiliation, is above the law.”
It added that “The legacy of Dr Ifeanyi Okowa’s administration is a high debt profile resulting from a reckless borrowing spree, which earned him the notorious nickname of ‘Borrow Borrow Governor’.
”During his eight years in office, Delta State has little to show for the vast federal allocations received. The few substandard roads he constructed often hailed as the ‘roadmaster,’ have deteriorated rapidly.”
(Punch)
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