....CONTINUE READING THE ARTICLE FROM THE SOURCE
By Samaila Emmanuel Bzugu
Ifeanyi Okowa, the former governor of Delta State and 2023 presidential running mate to former vice president, Atiku Abubakar, has been arrested by the Economic and Financial Crimes Commission (EFCC) over allegations of diverting N1.3 trillion in 13% derivation funds from the federation account between 2015 and 2023. The funds in question were meant for oil-producing states, but Okowa allegedly failed to account for them.
Okowa is accused of using public funds to acquire estates in Abuja and Asaba, Delta State
Some of the alleged misuses of funds include acquiring shares in UTM Floating Liquefied Natural Gas Company and investing N40 billion in one of Nigeria’s major banks to launch an offshore LNG project. Additionally, Okowa is accused of using public funds to acquire estates in Abuja and Asaba, Delta State.
Okowa, who was the vice-presidential candidate of People’s Democratic Party (PDP) in the 2023 general elections, was detained on November 4, 2024, after reporting to the EFCC’s Port Harcourt Directorate in Rivers State. The EFCC’s spokesman, Dele Oyewale, confirmed Okowa’s detention.
