Former Delta Governor Okowa Arrested Over Alleged N1.3 Trillion Diversion
Operatives of the Economic and Financial Crimes Commission (EFCC) arrested former Delta State Governor Ifeanyi Okowa on Monday amid allegations of diverting N1.3 trillion from the federation account. This amount represents the 13% derivation fund allocated to the state between 2015 and 2023.
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According to sources within the EFCC, Okowa was detained at the agency’s office in Port Harcourt, Rivers State, after being invited for questioning regarding these serious allegations. The investigation centers not only on the alleged diversion of the N1.3 trillion but also on Okowa’s failure to account for another N40 billion, which he reportedly claimed was used to acquire shares in UTM Floating Liquefied Natural Gas. These shares, valued at N40 billion, are said to represent an 8% equity stake intended to support the offshore LNG project; however, the funds are suspected to have been misappropriated for other purposes.
Additionally, investigators are looking into claims that Okowa diverted state funds to purchase estates in Abuja and Asaba, Delta State. He is currently being held at the EFCC facility in Port Harcourt as the investigation progresses.
EFCC spokesperson Dele Oyewale confirmed Okowa’s arrest but declined to provide further details about the case.
[Source: Punch Newspaper](https://punchng.com)
