Ex-Delta Gov, Okowa, in EFCC Net over Alleged N1.3tn Derivation Funds Fraud

Alex Enumah in Abuja and Sylvester Idowu in Warri

The immediate past Governor of Delta State, Dr Ifeanyi Okowa, has been arrested by the operatives of the Economic and Financial Crimes Commission (EFCC).
Okowa was arrested on Monday, in Port Harcourt, shortly after he honoured an invitation from officials of the anti-graft agency, investigating him over alleged corrupton and fraud.
According to a reliable source, the former governor and former vice presidential candidate of the People’s Democratic Party (PDP) in the 2023 general election, is being investigated over alleged diversion of the sum of N1.3 trillion from the 13 per cent derivation fund belonging to the state.
He was said to have committed the act between 2015 and 2023,  as governor of the state.
When contacted, spokesman of the EFCC, Mr Dele Oyewale, confirmed the arrest but however, refused to comment on the issue.
“Yes, I can confirm he was arrested”, he said, but refused to respond to further questions.
Meanwhile, another source hinted that Okowa was arrested, “when he reported at the Port Harcourt Directorate of the EFCC on the invitation of investigators handling his matter”. “He is being held at the EFCC holding facility in Port Harcourt”, he added.
According to the source, the former governor was alleged to have failed to render accounts of the funds as well as another N40 billion he allegedly claimed he used to acquire shares in UTM Floating Liquefied Natural Gas (FLNG).
Okowa was accused of buying shares worth N40 billion in one of the major banks in the country representing 8 per cent equity to float the offshore LNG, although, the source added that the funds may have been used for other purposes.
Besides the offshore LNG acquisition, the source also revealed that the former governor is being investigated over his alleged acquisition of “estates in Abuja and Asaba in Delta State”.
If eventually, the commission file charges against him, Okowa would be the fifth of immediate past governors to be prosecuted by the EFCC and under the chairmanship of Mr Ola Olukoyede.
Those currently under trial include former Anambra Governor, Mr Willie Obiano, former Kwara State Governor, Mr Abdulfatah Ahmed, and former Taraba Governor, Mr Darius Ishaku.
Although, the anti-graft agency had filed two separate charges against Kogi State Governor, Mr Yahaya Bello, both at the Federal High Court in Abuja and the High Court of the Federal Capital Territory (FCT), Bello’s arraignment is yet to take place due to different litigations up to the Supreme Court.
Only last week, the Commission had refused to disclose the number and names of former governors under investigation, but hinted that once enough evidence for prosecution is obtained the commission would not hesitate to made such names public.