The Economic and Financial Crimes Commission (EFCC) has arrested the recently sacked managing directors of Nigeria’s three major refineries—Port Harcourt, Warri, and Kaduna—along with several top officials of the facilities. This is part of an ongoing investigation into the alleged mismanagement of a staggering $2.9 billion allocated for the rehabilitation of the state-owned refineries. In a shocking revelation, the commission uncovered a whopping N80 billion in the personal bank account of one of the sacked refinery managing directors.
EFCC Launches Major Crackdown on Refinery Executives
On Friday, top officials of the EFCC confirmed the arrests of the ex-Managing Directors of the Port Harcourt Refining Company Ltd, Mr. Ibrahim Onoja, and Warri Refining and Petrochemical Company Ltd, Mr. Efifia Chu, among others. These arrests come amid mounting pressure on the Federal Government to deliver on its promise to revamp Nigeria’s comatose refineries.
A senior EFCC official, speaking anonymously, disclosed that the arrests form part of a broad probe into the alleged diversion and mismanagement of funds meant for the refineries’ quick-fix maintenance. “We are investigating all the money released for the rehabilitation of the three refineries. These are huge sums, and Nigerians deserve answers. Where is the money, and why are the refineries still inoperative?” the source stated.
$2.9 Billion Rehabilitation Funds Under Probe
According to documents obtained by The PUNCH, the total sum under investigation includes $1.5 billion allocated to the Port Harcourt refinery, $740 million to the Kaduna refinery, and $656 million to the Warri refinery. The EFCC believes the funds, released in tranches over recent years, were misappropriated by those at the helm of the refinery projects.
The alleged fraud comes against the backdrop of Nigeria’s persistent fuel import dependency despite the country’s large oil reserves and long-standing promises to revive domestic refining capacity. The probe is not only uncovering criminal diversion but also exposing systemic rot in the administration of the Nigerian National Petroleum Company Limited (NNPCL).
Shocking Discovery: N80bn in Personal Account of Sacked MD
In a particularly damning find, the EFCC discovered a staggering N80 billion in the account of one of the sacked refinery managing directors. Though the name of the individual has not been officially disclosed, top sources at NNPCL confirmed the discovery, describing it as “deeply troubling and unprecedented.”
An EFCC insider described the sum as “well beyond any legal earnings,” sparking further suspicion of widespread embezzlement. “We are still tracing the movement of these funds and trying to identify possible collaborators within and outside the oil sector,” the official said, adding that international financial intelligence units may be involved as the investigation expands.
Kyari, 13 Other Top NNPCL Officials Also Under Probe
A document dated April 28, 2025, and titled ‘Investigation Activities: Request for Information’, confirmed that the EFCC’s probe extends beyond the refinery MDs. It lists the immediate past Group Chief Executive Officer of the NNPCL, Mele Kyari, and 13 other former top executives of the corporation as subjects of investigation.
The probe seeks to uncover how billions of dollars earmarked for vital national infrastructure disappeared without meaningful progress on refinery rehabilitation. Sources at NNPCL say the commission has already demanded internal records, financial reports, and correspondence relating to the contracts and disbursements for the projects.
As investigations deepen, the arrests mark one of the most high-profile anti-corruption crackdowns in Nigeria’s oil sector in years, signaling what may be a turning point in efforts to restore accountability and transparency in the country’s energy industry.
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