A former Delta State Governor, Ifeanyi Okowa, has been apprehended by the nation’s anti-graft agency for allegedly misappropriating 13% of derivation funds during his administration to the tune of N1.3 trillion.
The Economic and Financial Crimes Commission (EFCC) accused Okowa of diverting approximately N1.3 trillion from the federation account’s 13% derivation funds between 2015 and 2023.
On Monday, November 4, in Port Harcourt, Rivers State, the immediate past governor of Delta responded to an invitation from the agency’s Port Harcourt Directorate.
The former governor is further accused of failing to account for the funds, including an additional N40 billion allegedly used to acquire an 8% equity share in a major bank to support UTM Floating Liquefied Natural Gas (LNG) investments.
Okowa is also alleged to have diverted state funds to acquire properties in Abuja and Asaba when he was governor.
According to Persecondnews, Okowa remains in custody at the EFCC facility in Port Harcourt at the time of this report.
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