Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested former Delta State Governor, Ifeanyi Okowa, over allegations of diverting N1.3 trillion in derivation funds.
The funds, representing 13% of the federation account between 2015 and 2023, are alleged to have been mismanaged by Okowa, who reportedly failed to account for the funds.
According to EFCC sources, Okowa, who served as ex-Vice President Atiku Abubakar’s running mate in the 2023 presidential election, was invited to the commission’s Port Harcourt office, where he was subsequently detained.
Advertisement
READ ALSO: 13% Derivation: Edwin Clarks Writes EFCC Over Okowa’s Alleged N1.7 Trillion Misappropriation
“Okowa was at our Port Harcourt office following an invitation from investigators probing the allegations against him. He was then arrested,” the source revealed.
The former Governor is also accused of misappropriating N40 billion meant for acquiring “shares in UTM Floating Liquefied Natural Gas” and diverting funds to “acquire estates in Abuja and Asaba.”
EFCC spokesperson, Dele Oyewale, confirmed Okowa’s arrest, stating, “He is with us.”
Oyewale declined further comment.
