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Former Delta State Governor Ifeanyi Okowa spent his second night in custody as the Economic and Financial Crimes Commission (EFCC) intensifies its investigation into allegations of financial misappropriations.
Okowa, who was the running mate of Peoples Democratic Party (PDP) presidential candidate Atiku Abubakar in the 2023 elections, reportedly presented himself to the EFCC’s Port Harcourt office on Monday, November 4, following a summons from the anti-graft agency.
Investigators allege that during his time in office, Okowa was involved in the diversion of approximately ₦1.3 trillion in public funds.
One investigator stated, “He was also accused of failing to render accounts of the funds as well as another ₦40 billion he allegedly claimed he used to acquire shares in UTM Floating Liquefied Natural Gas.”
Furthermore, reports suggest that Okowa allocated an additional ₦40 billion to purchase an 8% equity stake in a major Nigerian bank, intended to support the establishment of an offshore liquefied natural gas project.
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However, the funds were reportedly diverted toward personal real estate acquisitions in Abuja and Asaba, Delta State.
Sources within the EFCC highlighted the seriousness of the allegations, noting that the former governor remains in detention due to the weight of evidence under review.
“We are still keeping him; the investigation is ongoing. Earlier, he was confronted with some of the allegations against him. We want him to respond to the allegations,” a source shared.
As the investigation unfolds, Okowa’s detainment signals heightened scrutiny of former public officials in high-profile corruption probes by the EFCC.