The Economic and Financial Crimes Commission (EFCC) has detained former Delta State Governor Ifeanyi Okowa over allegations of N1.3 trillion oil derivation fraud, sources confirmed to Peoples Gazette on Monday.
The arrest reportedly took place at the Port Harcourt division of the EFCC.
Dele Oyewole, a spokesperson for the EFCC, confirmed Mr. Okowa’s detention to The Gazette in a telephone interview, stating that the former governor was taken into custody over accusations of embezzling funds and amassing substantial assets during his tenure.
Mr. Okowa, who served as vice-presidential candidate to Atiku Abubakar for the Peoples Democratic Party (PDP) in the 2023 general elections, allegedly leveraged his position to accumulate assets worth N1.3 trillion.
Key among these holdings are significant shares in the UTM Floating Liquefied Natural Gas Company and other investments within the oil sector.
At the time of reporting, it remains unclear if Mr. Okowa has engaged legal representation. A spokesperson for Mr. Okowa was unavailable for comment on the development.
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