.…….Billions Vanish as Anti-Graft Agency Probes Mismanagement of Refinery Rehabilitation Funds
The Economic and Financial Crimes Commission (EFCC) has arrested the recently sacked managing directors and several top officials of the Port Harcourt, Warri, and Kaduna refineries over alleged massive fraud involving funds earmarked for the rehabilitation of the facilities.
In a shocking revelation, EFCC operatives discovered a staggering N80 billion in the bank account of one of the dismissed managing directors, raising serious concerns about the mismanagement of $2.9 billion allocated for refinery repairs.
According to findings by Truth Live News, the EFCC is investigating the disbursement of 1.5 billion for the PortHarcourt refinery, 740 million for the Kaduna refinery, and $656 million for the Warri refinery. Despite these huge sums, the refineries remain non-functional, prompting public outrage.
The arrested officials include:
Mr. Ibrahim Onoja – Former Managing Director, Port Harcourt Refining Company Ltd.
Efifia Chu – Former Managing Director, Warri Refining and Petrochemical Company Ltd.
Mustafa Sugungun – Former Managing Director, Kaduna Refining and Petrochemical Company Ltd.
A senior EFCC source, who spoke anonymously, confirmed that the arrests were part of an ongoing probe into the questionable expenditure of funds meant for refinery maintenance.
“We are investigating the money released for the rehabilitation of all three refineries. All principal officers within that period are being invited. Some have been arrested, and we are still tracking others. Nigerians want to know: where is the money, and why are the refineries not working?” the source stated.
A leaked document from the Nigerian National Petroleum Company Limited (NNPCL), dated April 28, 2025, revealed that the EFCC’s investigation extends to Mele Kyari, the immediate past Group Chief Executive Officer of NNPCL.
The document, titled ‘Investigation Activities: Request for Information’, listed 13 other former senior executives of the national oil company suspected of involvement in the misappropriation of funds.
The arrest of the officials has sparked fresh anger among Nigerians, who have long decried the poor state of the country’s refineries despite billions spent on repairs. With fuel scarcity persisting and the nation heavily reliant on imported petroleum products, citizens are demanding accountability and swift prosecution of those found guilty.
The EFCC has assured the public that the investigation will be thorough, vowing to recover stolen funds and ensure justice is served.