The Economic and Financial Crimes Commission (EFCC) has withheld the international passport of former Delta State Governor, Ifeanyi Okowa, following his arrest on November 4, 2024, over allegations of diverting N1.3 trillion in derivation funds.
The N1.3 trillion represents 13% of the federation account’s derivation funds between 2015 and 2023. Okowa is also accused of failing to account for the funds and another N40 billion, which he allegedly used to acquire shares in UTM Floating Liquefied Natural Gas (LNG) and a major Nigerian bank, where he reportedly purchased 8% equity to float the offshore LNG project.
EFCC sources revealed that Okowa was arrested in Port Harcourt, Rivers State, and has since been released after meeting his bail conditions, which included submitting his travel documents to the agency pending further investigations.
A source close to the matter said, “Okowa was released last Wednesday after complying with bail conditions, including surrendering his travel documents. This is standard procedure to prevent suspects under investigation from fleeing.”
Repeated attempts to reach the EFCC spokesperson, Dele Oyewale, for comment were unsuccessful at the time of this report.
Okowa denies misappropriation, dismisses allegations
Speaking publicly for the first time since his invitation to the EFCC, Okowa dismissed the N1.3 trillion diversion allegations as “laughable” and entirely false. He made the statement during a visit by the national leadership of the Urhobo Progress Union (UPU) at his residence in Asaba on Tuesday.
Okowa explained, “The petition was written months ago, and some people, driven by political motives, ensured my invitation by the EFCC. They claim I misappropriated N1.3 trillion, but to take such an amount would mean pocketing between N16 billion and N20 billion every month. Even the President couldn’t do that, let alone a state governor.”
The former governor also highlighted the financial challenges his administration faced in its early years. “When we took office, the state’s revenue barely covered salaries. Some local governments, like Ethiope East, were 15 months behind on salary payments. But despite this, Delta State became the highest salary-paying state in the country,” he said, adding that salaries and pensions reached over N11 billion monthly during his tenure.
Okowa further emphasized his administration’s commitment to public welfare, particularly in riverine areas, and expressed his confidence in the ongoing work of his successor, Governor Sheriff Oborevwori. “I’ve done everything by the book, and I know I’ll be cleared. The EFCC will investigate, and once the truth is found, they will stop. For those who made the false allegations, I pray for them,” he added.
Okowa reaffirmed his support for Governor Oborevwori, stating, “I will continue to support Oborevwori as much as I can because I believe in his ability to bring progress to Delta State.”
UPU leadership visits Okowa in solidarity
Earlier, the President-General of the UPU, Chief Ese Owe, explained that the visit was to express gratitude to Okowa for his support in helping their son, Oborevwori, become governor. Okowa acknowledged the unwavering support of the Urhobo people, stating, “I am grateful to the UPU and the Urhobo people for their continued backing. They supported me throughout my tenure, and I will continue to work for their betterment.”
