N1.3tn Fraud: Okowa Remains in EFCC Custody for Second Night

Former Delta State Governor Ifeanyi Okowa remains in the custody of the Economic and Financial Crimes Commission (EFCC) in Port Harcourt, Rivers State, for a second consecutive night.

Okowa, who was the running mate to People’s Democratic Party (PDP) presidential candidate Atiku Abubakar in the 2023 election, is under investigation for alleged misappropriation of N1.3 trillion in state funds.

The Delta State chapter of the All Progressives Congress (APC) has expressed support for Okowa’s detention, describing it as a “positive step” in Nigeria’s ongoing battle against corruption.

The former governor reportedly responded to an EFCC invitation on Monday, but was subsequently detained as investigators continue to probe the allegations of misappropriating N1.3 trillion in state funds.

Sources close to the investigation told *Punch* that Okowa is also facing accusations of failing to account for an additional N40 billion, which was reportedly invested in shares of UTM Floating Liquefied Natural Gas, as well as purchasing equity in a major Nigerian bank—allegedly using public funds.

Investigators are said to be looking into his use of state resources for personal ventures, including real estate acquisitions in Abuja and Asaba, Delta State.

A source within the EFCC revealed that the ex-governor has been presented with several allegations and remains in custody due to the “quantum of the allegations and the amounts involved.”

Investigators plan to keep Okowa detained until he provides responses to the charges against him.

The Delta State APC released a statement on Tuesday, November 5, expressing support for Okowa’s arrest. APC State Publicity Secretary, Valentine Onojeghuo, criticized the former governor’s tenure, accusing him of significant financial mismanagement, including “reckless borrowing.” Onojeghuo alleged that Okowa’s actions left Delta State with a heavy debt burden and limited infrastructure development.

“The arrest of Dr. Ifeanyi Okowa serves as a warning to all public officials that the era of impunity is over,” the statement read. “No one, regardless of political affiliation, is above the law.”

The APC accused Okowa’s administration of diverting state resources into personal ventures, including allegedly establishing a bank, financing political ambitions, and backing a controversial succession plan.

Dubbed the “Borrow Borrow Governor” by some, Okowa has faced significant criticism for his administration’s heavy debt accumulation and the poor maintenance of infrastructure projects across the state.