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The Economic and Financial Crime Commission (EFCC) has arrested Umar Ajiya Isa, a former Head of Finance (CFO) of the Nigerian National Petroleum Company Limited (NNPCL), as part of an investigation of $ 7.2 billion fraud that is connected to the rehabilitation of the Nigerian large refinery.
Sources in EFCC confirmed on Monday that Isa was being supervised for alleged abuse of position, corruption, transfer of public funds, and received bribes from contractors involved in maintaining Turnaround Port Harcourt, Kaduna, and Warri Refinery.
An EFCC official, who spoke on anonymous condition, showed that ISA’s arrest was a component of a broader investigation of the alleged fault of billions of dollars allocated for refinery reshuffle – continuous problems that had long been troubled by the Nigerian vital oil sector. “Our operation has arrested former NNPCL finance head, Umar Ajiya Isa, in connection with alleged $ 7.2 billion fraud,” the source confirmed.
EFCC reportedly focused its supervision on the disbursement of certain funds, including $ 1.56 billion for the Harcourt Port refinery, $ 740 million for the Kaduna refinery, and $ 656 million for the Warri refinery – reached around $ 2.96 billion under the initial examination.
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In its capacity as a CFO, Jesus holds the responsibility to ratify the release of the designated funds for this rehabilitation project.
The ongoing investigation extends to other high -ranking officials. Those who are being investigated include Tunde Bakare, Director of Warri Refinery; Ahmed Adamu Dikko, former Director of Implementing Port Harcourt Refinery; Ibrahim Monday Onoja, also a former MD Port Harcourt refinery; And Jimoh Olasunnmi, former MD Kilang Warri, who was also reported in EFCC detention.
This development indicates a substantial escalation in continuing investigation of alleged financial violations in the Nigerian oil sector.
