The Economic and Financial Crimes Commission (EFCC) has confiscated the passport of Ifeanyi Okowa, the former Governor of Delta State, following accusations of large-scale financial misconduct.
Okowa was taken into custody by the anti-corruption agency on November 4, 2024, in connection with allegations of embezzling N1.3 trillion from Delta State’s oil derivation fund between 2015 and 2023. The funds, meant to support oil-producing states, are said to have been diverted for unauthorized purposes.
The EFCC’s inquiry also includes claims that Okowa spent N40 billion to acquire shares in UTM Floating Liquefied Natural Gas and another N40 billion to buy shares in a major bank, allegedly creating an offshore LNG project.
Sources close to the investigation told PUNCH that Okowa was detained at the EFCC’s Port Harcourt office before being released on bail after meeting specified conditions, including surrendering his passport.
An anonymous EFCC insider confirmed to PUNCH, “Okowa is no longer in our custody. He was released last Wednesday after meeting his bail conditions, which include depositing his travel documents with the commission, pending the conclusion of our investigations of the allegations against him.
“The sum allegedly is too huge to take risks. And what we have done is not out of place. This is to prevent anyone under investigation from jumping the bail he/she had been granted,” he said.
Okowa, however, dismisses these claims as baseless. Addressing the allegations for the first time since his release, he told the Urhobo Progress Union during a solidarity visit in Asaba that the accusations were unfounded and politically motivated.
In a statement through his Chief Press Secretary, Olisa Ifejika, Okowa stated that the accusations against him “were driven by mundane political considerations.”
“It was a petition written several months ago, but unfortunately, with the politics of our time, some people decided to ensure that Okowa must be invited by the EFCC.
“People are genuinely uncomfortable about Okowa and I was actually invited and I went there by myself and the first thing I saw was that they said I misappropriated N1.3tn. I said, do you know the kind of money you are talking about?
“To successfully take N1.3tn, it means you have to be taking between N16bn and N20bn every month into your pocket. I don’t even know if the President of this country will be able to do that, not to talk of the governor of Delta State.
“They have forgotten that the first in three years we came into office – 2015, 2016 and 2017 – the money that was coming into the state was not even enough to pay salaries at all.
“Some local governments like Ethiope East were owing as much as 15 months salaries and even in the state here, some people were getting half salaries.
“Delta State is the highest salary-paying state in this nation; our salaries grew to the level that salaries and pensions went up to over N11bn in a month.
“There are some states whose total staff strength is less than 18,000, but here in Delta, we have over 56,000 workers,” he said.
The former governor added, “Workers always received their salaries promptly while we also embarked on all the projects that were done, and nobody thinks about it, especially the projects we did in the riverine areas. But, I know that the people are not happy with those who wrote the petition.”
He said, “Personally, I am not against investigation because the EFCC has to do its job, and I know that I have done everything how it ought to be done.
“For every allegation, they will investigate, and when they have found the truth, they will stop, but for those who sent a wrong communication, it is rather unfortunate.
“I just pray for them because when you allow yourself to be used as a tool when evil starts to come, the impact will be so much, but I pray that God will forgive them.
“I know that by the special grace of God, we have done the things we ought to do to the best of our ability and by the special grace of God, Governor Oborevwori is beginning to do a lot.
“I believe that by next year, he will do a lot more. So, let me assure you that I will continue to support the UPU and the governor of the state as much as I can because I know that he has a lot to offer this state.”
He commended the UPU for its support to him over the years, saying, “I thank the UPU and the Urhobos because they supported me a lot and they also believe in equity because I always got more votes from them than their sons who contested against me.”
