The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has confirmed that former Delta State Governor Ifeanyi Okowa remains under investigation for alleged financial misconduct during his tenure. Speaking in an interview, Olukoyede stated, “He has not been cleared,” emphasizing that the probe is ongoing and unaffected by political affiliations.
The investigation centers on allegations that Okowa misappropriated approximately ₦1.3 trillion in oil derivation funds between 2015 and 2023. Additional accusations include the diversion of ₦40 billion purportedly used to acquire an 8% equity stake in UTM Floating Liquefied Natural Gas, with claims that state funds were utilized to purchase significant shares in a major Nigerian bank as part of the LNG deal.
Despite his recent defection from the Peoples Democratic Party (PDP) to the All Progressives Congress (APC), Okowa has denied any wrongdoing, asserting that the allegations are politically motivated. He maintains that he is not afraid of the EFCC probe and welcomes any honest investigation into his administration.
Olukoyede reiterated the EFCC’s commitment to impartiality, stating that the commission is guided strictly by the provisions of the law and is not influenced by political considerations. He emphasized that the EFCC has investigated and prosecuted members across various political parties, underscoring the agency’s dedication to combating financial crimes without bias.