The Economic and Financial Crimes Commission (EFCC) has intensified its battle against entrenched corruption in Nigeria’s oil sector, recovering over N5 billion and $10 million linked to fraudulent transactions in the turnaround maintenance of the nation’s refineries.
The sweeping investigation covers the Port Harcourt, Kaduna, and Warri refineries, which have received colossal sums for repairs but remain largely non-functional. According to insiders, the anti-graft agency is already tracing another N10 billion and $13 million believed to have been diverted through inflated contracts and dubious deals.
okay.ng reports that EFCC Chairman, Ola Olukoyede, personally took charge of the probe due to his dissatisfaction with the long-standing failure of the refineries despite decades of government expenditure running into billions of dollars.
Nigeria’s four refineries, which should anchor the country’s energy security, have operated below capacity for decades. Billions of dollars were allocated by successive governments to restore their performance, yet Nigeria still depends heavily on imported petroleum products.
Investigations are focusing on the staggering $1.55 billion allocated to the Port Harcourt refinery, $740 million earmarked for Kaduna, and $656 million budgeted for Warri. Sources revealed that “fraudulent dealings through over-invoicing, contract inflation and questionable payments were largely responsible for the malfunctioning of the refineries.”
Former refinery management officials have been arrested and grilled multiple times, while both serving and retired NNPCL executives are also on the radar of prosecutors.
A source confirmed: “A total sum of $10m and N5bn have so far been recovered from suspects indicted in the fraud. The recoveries were made from some contractors and government officials involved in over-invoicing and inflated payments.”
Beyond the recoveries, the EFCC is probing fresh allegations of contract inflation involving $40 million in inflated procurement costs tied to refinery rehabilitation projects.
Though EFCC’s spokesperson, Dele Oyewale, did not respond to inquiries, a senior insider confirmed that charges against some NNPCL officials are imminent, marking a decisive moment in Nigeria’s fight against deep-rooted corruption in the energy sector.
