The Economic and Financial Crimes Commission (EFCC), has arrested Former Delta State Governor, Ifeanyi Okowa on accusations of misappropriating public funds.
Allegedly, Okowa diverted ₦1.3 trillion from the 13 percent oil derivation fund allocated to oil-producing states between 2015 and 2023.
Reports indicate that Okowa was apprehended in Port Harcourt when he voluntarily reported to the EFCC following an invitation.
The anti-graft agency is also probing Okowa’s involvement in the alleged mismanagement of an additional ₦40 billion, reportedly used to purchase shares in UTM Floating Liquefied Natural Gas, a project led by UTM Offshore Limited in Akwa Ibom State.
Sources claim Okowa could not account for the utilization of these funds and is additionally being investigated for allegedly using state funds to acquire properties in Abuja and Asaba.
