Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested Delta State’s former Governor Ifeanyi Okowa, who was Running Mate to PDP’s Alhaji Atiku Abubakar in the 2023 presidential election.
Okowa was arrested on Monday for allegedly diverting N1.3 trillion derivation fund for Delta State.
Reports say that the sum was the 13 percent derivation fund from the federation account between 2015 and 2023 when he governed the oil-rich Delta State.
He was arrested after reporting at the Port Harcourt Directorate of the EFCC, after he honoured an invitation by a team of crack detectives of the agency handling his case.
During interrogation, the former Governor allegedly failed to render accounts of the funds as well as another N40 billion he allegedly claimed he used to acquire shares in UTM Floating Liquefied Natural Gas.
Specifically, Okowa allegedly bought shares N40 billion in one of the major banks in the country, representing 8 percent equity to float the offshore LNG.
