Economic and Financial Crimes Commission has arrested Ifeanyi Okowa, former governor of Delta State, over allegations of misappropriating N1.3 trillion from funds allocated to oil-producing states.
Okowa was taken into custody on Monday after he reported to the EFCC office in Port Harcourt, Rivers State, following an official summons.
Sources involved in the investigation disclosed that the funds in question, part of the 13 percent derivation fund, were allegedly diverted during Okowa’s tenure from 2015 to 2023.
Insiders also revealed that the former governor is being investigated over an additional N40 billion allegedly used to acquire shares in UTM Floating Liquefied Natural Gas, a project under development by UTM Offshore Limited in Akwa Ibom State.
The probe further extends to Okowa’s alleged acquisition of estates in Abuja and Asaba, raising questions about the source and use of funds. It is alleged that the former governor has yet to account for the management of these funds.
Okowa, who served as Delta State’s governor for eight years until 2023, is currently being held at the EFCC’s Port Harcourt facility. He was succeeded by Sheriff Oborevwori.
