Home News $3bn Refinery Scandal: EFCC Arrests Sacked MDs, N80bn Found in One’s Accounts
News

$3bn Refinery Scandal: EFCC Arrests Sacked MDs, N80bn Found in One’s Accounts

Share
EFCC to Probe Kwankwanso, Fayose, Odili, Sylva, 9 Other Ex-Govs For N853.8bn Fraud
Share
  • EFCC arrests sacked MDs and top officials of Nigeria’s state-owned refineries over alleged $3bn fraud.

  • N80bn was found in one of the sacked MD’s bank accounts, according to NNPCL sources.

  • The investigation covers billions of dollars released for refinery rehabilitation.

The Economic and Financial Crimes Commission (EFCC) has arrested the recently sacked managing directors and top officials of Nigeria’s state-owned refineries over alleged mismanagement of funds earmarked for rehabilitation.

The total amount under investigation is $2,956,872,622.36.

According to sources, the EFCC is probing the sum of $1,559,239,084.36 allocated to the Port Harcourt refinery, $740,669,600 released for the Kaduna refinery, and $656,963,938 approved for the Warri refinery.

ATTENTION: Click HERE to join our WhatsApp group and receive News updates directly on your WhatsApp!

READ ALSO: E-Money Urges Nigerians to Stop Spraying Cash at Parties, Cites EFCC Warning

“We are investigating the money that was released for the rehabilitation of all three refineries—money disbursed in recent times. All the principal officers within that time frame are being invited,” an EFCC source said.

NNPCL sources revealed that N80bn was found in one of the sacked MD’s bank accounts. “Large amounts have been discovered in his accounts. About N80bn has so far been discovered in his various accounts. The way things are going, it may be bigger than Emefielegate,” the official stated.

Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles
UN Judge Bags 6 Years Imprisonment Over Salve Trade
News

UN Judge Bags 6 Years Imprisonment Over Househelp Salvery

A drastic action has been taken concerning a judge accused of modern...

Renewed killings in Plateau, Benue, others threat to food security, experts warn | Daily Report Nigeria
News

Renewed killings in Plateau, Benue, others threat to food security, experts warn

Farmers in Nigeria face increased insecurity, threatening food production. Attacks in Plateau...

Tinubu Charges Governors To Prioritize Agriculture, Deliver Tangible Results | Daily Report Nigeria
News

Tinubu Charges Governors To Prioritize Agriculture, Deliver Tangible Results

President Tinubu urges governors to focus on delivering tangible results and ignore...

Appeal Court Did Not Acquit Nnamdi Kanu – FG
News

DSS Witness Testifies in Nnamdi Kanu’s Trial, Reveals Items Recovered from IPOB Leader

DSS tells court it didn’t arrest Nnamdi Kanu with any weapon in...