N1.3 Trillion Fraud Case: Okowa spends second day in EFCC custody
Former Delta State Governor Ifeanyi Okowa is spending his second night in detention at the Port Harcourt office of the Economic and Financial Crimes Commission (EFCC). Okowa was detained on Monday after voluntarily reporting to the EFCC following an invitation over alleged misappropriation of N1.3 trillion.
The Delta State chapter of the All Progressives Congress (APC) has expressed support for Okowa’s detention, describing it as a crucial step in Nigeria’s fight against corruption. Okowa, who ran as the vice-presidential candidate alongside Atiku Abubakar for the People’s Democratic Party in the 2023 elections, is facing accusations of diverting substantial public funds and failing to account for an additional N40 billion reportedly used to acquire shares in UTM Floating Liquefied Natural Gas.
According to sources, Okowa allegedly used state funds to acquire shares in a major Nigerian bank, totaling an eight percent equity stake, and is suspected of diverting additional funds to purchase estates in Abuja and Asaba. An EFCC official confirmed that Okowa remains in custody due to the seriousness and scale of the allegations, stating, “We are still holding him to allow for further investigation into the claims.”
The APC Delta State Publicity Secretary, Valentine Onojeghuo, released a statement on Tuesday urging the EFCC to thoroughly investigate not only Okowa but also other former governors and public officials involved in financial misconduct. The statement criticized Okowa’s administration for what it described as financial mismanagement, alleging that he channeled state resources into personal projects, financed a failed presidential bid, and imposed a controversial successor.
The APC also highlighted Okowa’s high debt record, which they claim has left Delta State with a legacy of poor infrastructure and deteriorating roads, despite significant federal allocations during his eight-year tenure. The party concluded that Okowa’s arrest sends a clear message that accountability is essential and that no official is above the law, regardless of status or political affiliation.
