The Economic and Financial Crimes Commission has reclaimed over N5 billion and $10 million from contractors and former Nigerian National Petroleum Company Limited officials linked to a massive fraud tied to the maintenance of Nigeria’s refineries.
The Punch reports that the EFCC is also hot on the trail of another N10 billion and $13 million allegedly diverted by contractors and officials involved in the troubled refinery rehabilitation projects.
EFCC insiders say Chairman Ola Olukoyede is personally leading the investigation, driven by concerns that the Port Harcourt, Kaduna, and Warri refineries remain barely functional despite years of hefty public funding.
NAIJAONPOINT notes that billions of dollars have been poured into refinery maintenance over multiple administrations, yet the facilities still don’t work properly, forcing Nigeria to rely on imported fuel.
Investigators are digging into over $1.5 billion spent on the Port Harcourt refinery, $740 million for Kaduna, and $656 million for Warri. They’ve uncovered widespread over-invoicing, inflated contracts, and suspicious payments.
One senior EFCC official told The Punch, “Our probe into the refinery maintenance revealed shocking fraud. Contractors and some NNPCL officials played a big role in the refineries’ failure.”
The official added that several former refinery managers have been repeatedly questioned, and some may soon face prosecution.
Another source said that while N5 billion and $10 million have been recovered, the EFCC is still tracking an additional $13 million and N10 billion siphoned through padded contracts.
The agency is also investigating new claims of a $40 million contract inflation tied to equipment purchases for the rehabilitation projects.