The Economic and Financial Crimes Commission (EFCC) has arrested the recently sacked managing directors and several top officials of Nigeria’s three major refineries—Port Harcourt, Warri, and Kaduna—over alleged misappropriation of nearly $3 billion earmarked for their rehabilitation.
PUNCH reports that the EFCC is currently investigating the total sum of $2.96 billion allocated for the revamp of the facilities: $1.56 billion for the Port Harcourt Refinery, $740.6 million for Kaduna, and $656.9 million for Warri. Among those arrested are former managing directors Ibrahim Onoja (Port Harcourt Refining Company) and Efifia Chu (Warri Refining and Petrochemical Company).
Sources within the EFCC confirmed that a staggering N80 billion was discovered in the bank accounts of one of the sacked MDs, prompting wider scrutiny of financial mismanagement within the Nigerian National Petroleum Company Limited (NNPCL).
The arrests followed a directive by the new NNPCL leadership which recently relieved the MDs and other senior officials of their duties. The Warri refinery, which resumed operations in December 2024, was shut down again within a month due to safety issues, while the Port Harcourt refinery is reportedly operating below 40% capacity despite its celebrated restart.
A senior EFCC official, who spoke anonymously, said the arrests are part of a broader probe into the failed refinery rehabilitation projects. “All principal officers who managed the funds during that period are being invited. Nigerians deserve to know where the money went and why our refineries remain underperforming,” the official stated.
In a related development, the EFCC is also investigating former Group Chief Executive Officer of NNPCL, Mele Kyari, and 13 other senior executives for alleged abuse of office and financial misappropriation. An EFCC letter dated April 28, 2025, requested certified records of emoluments and allowances of the affected individuals.
As of press time, EFCC spokesperson Dele Oyewale could not be reached for official comments. However, the magnitude of the fraud has drawn comparisons to the ongoing probe into former CBN Governor Godwin Emefiele, with insiders warned the scale may be even greater.
The nation awaits further revelations as the EFCC intensifies its investigation into one of Nigeria’s biggest public sector fraud scandals.
