The Economic and Financial Crimes Commission (EFCC) has launched a major investigation into former senior officials of the Nigerian National Petroleum Company Limited (NNPCL) and recently dismissed managing directors of the Port Harcourt, Warri, and Kaduna refineries over the alleged misappropriation of $2.96 billion meant for refinery rehabilitation.
A top EFCC source, speaking to Vanguard on condition of anonymity, confirmed that several high-level individuals are being investigated over questionable disbursements tied to the failed refinery maintenance projects.
The breakdown of the funds under scrutiny includes $1.56 billion allocated to the Port Harcourt refinery, $740 million for Kaduna, and $657 million for Warri — all intended for short-term fixes to refineries that remain non-operational despite years of funding.
According to preliminary findings, several former officials have already been detained. Among them are Ibrahim Onoja, ex-Managing Director of the Port Harcourt Refining Company, and Efifia Chu, former MD of the Warri Refining and Petrochemical Company. One of the former MDs has reportedly spent over a week in EFCC custody after investigators traced large, unexplained sums to his bank accounts.
Sources familiar with the case say the scale of financial misconduct under review could surpass the magnitude of the “Emefielegate” scandal, which previously rocked Nigeria’s financial sector.
The EFCC has also written to NNPCL, requesting comprehensive financial records — including salary structures, allowances, and transaction details — to aid the ongoing probe.
As of press time, EFCC spokesperson Dele Oyewale had not responded to requests for comment. However, the investigation is shaping up to be one of the most significant public finance probes in Nigeria’s recent history.