Monday, August 18, 2025 - The Economic and Financial Crimes Commission (EFCC) hasrecovered over ₦5 billion and $10 million linked to massive fraud in the turnaround maintenance of Nigeria’s refineries in Port Harcourt, Kaduna, and Warri.
Investigations revealed that contractors and senior
officials of the Nigerian National Petroleum Company Limited (NNPCL) siphoned
billions through inflated contracts, over-invoicing, and questionable payments.
The anti-graft agency is now preparing charges against some former and serving
NNPCL executives.
According to EFCC insiders, the commission is also pursuing
the recovery of an additional ₦10 billion and $13 million traced to fraudulent
contractors engaged in refinery projects.
It is understood that the chairman of the EFCC, Ola
Olukoyede, is personally overseeing the probe. He is said to have expressed
frustration that Nigeria’s refineries remain comatose despite huge public funds
committed to their rehabilitation.
Documents reviewed by investigators show that over $1.5
billion was allocated to the Port Harcourt refinery, $740 million to Kaduna,
and $656 million to Warri. Yet, none of the facilities has operated optimally
for decades, leaving the country dependent on imported petroleum products.
A senior EFCC official confirmed that former management
teams of the refineries have been interrogated several times. “A total sum of
$10 million and ₦5 billion has so far been recovered from contractors and
government officials indicted in the fraud. More recoveries are underway,” the
source disclosed.
The commission is also examining fresh allegations of
contract inflation amounting to $40 million, allegedly involving NNPCL
officials and contractors tasked with procuring equipment for rehabilitation
projects.
With investigations concluded on several suspects, the EFCC
is set to file charges against ex-officials of the NNPCL and refinery managers
implicated in the multi-billion-naira fraud.
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