The Economic and Financial Crimes Commission (EFCC) has arrested Ifeanyi Okowa, the former Governor of Delta State, over allegations of financial misappropriation.
According to reports, the ex-governor is accused of diverting N1.3 trillion, a portion of the 13 percent derivation fund designated for oil-producing states, between 2015 and 2023. Okowa was taken into custody in Port Harcourt, Rivers State, after responding to an EFCC invitation.
Additionally, Okowa is under investigation for reportedly spending N40 billion on shares in the UTM Floating Liquefied Natural Gas project in Akwa Ibom State, an investment linked to UTM Offshore Limited. He allegedly could not provide satisfactory accounts for the usage of these funds.
The EFCC is also examining claims that he used public funds to acquire properties in Abuja and Asaba.
