Former Delta Governor Ifeanyi Okowa Arrested by EFCC Over Alleged N1.3 Trillion Fraud

The Economic and Financial Crimes Commission (EFCC) has arrested Ifeanyi Okowa, former governor of Delta State, in connection with the alleged misappropriation of N1.3 trillion. The funds reportedly involve the 13% derivation allocation received from the federation account between 2015 and 2023.

Sources within the EFCC disclosed that Okowa was invited to the agency’s office in Port Harcourt, Rivers State, for questioning and was subsequently detained for further investigation. According to one EFCC official, Okowa is accused of misappropriating the derivation funds and failing to account for them properly.

In addition, Okowa is alleged to have used N40 billion to acquire an 8% stake in UTM Floating Liquefied Natural Gas (FLNG) by purchasing shares in a major Nigerian bank. The funds, according to sources, were reportedly diverted for other unauthorized uses.

EFCC investigators are also examining claims that the former governor diverted public funds to purchase real estate properties in Abuja and Asaba, Delta State. Currently, Okowa remains in detention at the EFCC’s Port Harcourt facility.

When approached for comments, EFCC spokesperson Dele Oyewale confirmed Okowa’s arrest, saying, “He is with us,” but declined to provide further details on the ongoing investigation.