Operatives of the Economic and Financial Crimes Commission have taken into custody a former Chief Financial Officer of the Nigerian National Petroleum Corporation Limited, Umar Ajiya Isa, over his alleged role in a multi-billion-dollar fraud tied to refinery repairs.
According to sources close to the EFCC, the arrest is part of an ongoing investigation into alleged corruption and financial mismanagement involving $7.2 billion reportedly set aside for the rehabilitation of three major refineries in Nigeria—Kaduna, Warri, and Port Harcourt. The anti-graft agency is specifically looking into how these funds were disbursed and whether they were used for their intended purposes.
The total amount currently being investigated stands at $2,956,872,622.36. Of that, $1,559,239,084.36 was earmarked for the Port Harcourt refinery, $740,669,600 for the Kaduna refinery, and $656,963,938 for the Warri refinery. These figures represent only a portion of the total project sum, suggesting that other payments may be under review.
A top EFCC official, who did not want to be named due to lack of approval to speak publicly, noted that Isa is being investigated for several offences, including abuse of office, corruption, and the possible diversion of public funds. The official said, “Our operatives have arrested a former Chief Financial Officer of the NNPCL, Umar Ajiya Isa, in connection with an alleged $7.2bn fraud related to the rehabilitation of the Kaduna, Warri, and Port Harcourt refineries.”
The EFCC is also examining financial activities tied to Turn Around Maintenance (TAM) projects and has placed other former top officials under scrutiny. Investigators are looking at whether payments to contractors followed due process, and whether kickbacks were involved.
In addition to Isa, the agency has reportedly detained Jimoh Olasunkanmi, who previously served as the Managing Director of the Warri Refinery. Another official with knowledge of the matter said, “Yes, it is true. We have arrested Isa. We also have in our custody the former MD of the Warri Refinery, Jimoh Olasunkanmi.”
