By Gabriella Chinwendu Ayigbo
The former governor of Delta State, Nigeria, was arrested on Monday, 4th November 2024, by the Economic and Financial Crimes Commission (EFCC) for the alleged diversion of 1.3 trillion naira—part of the 13% derivation fund from the federation account allocated for oil-producing states. This money was reportedly misappropriated between 2015 and 2023.
He was arrested in Port Harcourt, Rivers State, when he reported to the EFCC directorate on the invitation of investigators handling the case.
It was alleged that he was unable to account for the 1.3 trillion naira and an additional 40 billion naira used in acquiring shares at UTM Floating Liquefied Natural Gas, a facility being developed by UTM Offshore Limited in Akwa Ibom State. The ex-governor also reportedly bought shares worth 40 billion naira in one of the country’s major banks, representing an 8% equity stake, to support the LNG project. Investigators are also examining the alleged diversion of funds by the former governor to acquire estates in Abuja and Asaba, the capital city of Delta State, Nigeria.
The ex-governor allegedly spent a large portion of these funds on his failed 2023 presidential campaign, where he was the running mate to Atiku Abubakar, the presidential candidate of the People’s Democratic Party (PDP). The head of media and publicity at the EFCC, Mr Dele Oyewale, stated, “He is with us,” but declined further comments on the matter.
The former governor was succeeded by Sheriff Oborevwori.
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