The Economic and Financial Crimes Commission (EFCC) has seized the international passport of former Delta State Governor, Ifeanyi Okowa, as part of an ongoing investigation into allegations of diverting N1.3 trillion in oil derivation funds.
Okowa was arrested on November 4, 2024, by EFCC agents, who are probing the alleged mismanagement of funds from the Federation Account between 2015 and 2023.
The former governor has been accused of failing to account for the N1.3 trillion, as well as another N40 billion that he reportedly invested in shares for UTM Floating Liquefied Natural Gas and a major Nigerian bank.
However, Okowa has vehemently denied the allegations, describing them as “laughable” and politically motivated.
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Following his arrest, Okowa was granted bail on November 7, 2024, after fulfilling the required conditions, which included surrendering his travel documents to the EFCC.
A source close to the investigation confirmed that Okowa was released on bail but will remain under scrutiny as the commission continues its probe.
“The sum allegedly involved is too large to ignore,” said an EFCC insider. “We’ve taken necessary steps to prevent him from fleeing the country before the investigation concludes.”
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Speaking publicly for the first time since his release, Okowa dismissed the fraud claims, calling them politically driven. “I don’t even know if the President could have done what they’re accusing me of, let alone a state governor,” Okowa said, reflecting on the size of the alleged misappropriations.
He also defended his financial management of the state, noting that Delta State faced severe financial constraints early in his tenure but managed to pay workers’ salaries and implement key infrastructure projects.
“I have no problem with the EFCC doing its job,” he added. “I have always done everything by the book, and I’m confident that the truth will come out.”
Okowa also pledged his continued support for his successor, Governor Sheriff Oborevwori, and emphasized his commitment to the people of Delta State.
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