₦airaland Forum

NNPCL Refinery Maintenance Fraud Fraud: EFCC Seizes ₦38.6B and Properties [EXCLUSIVE]

Based on the Central Bank of Nigeria’s official market rate of N1,380/$1 posted on Friday, the $21.2 million recovered is approximately N29.26 billion, bringing the total amount recovered so far to N38.66 billion.

The recoveries are part of what investigators described as one of the most extensive probes into the management of billions of dollars committed to reviving the country’s moribund refineries.

Sources at the EFCC, briefed on the investigations, told this newspaper that the investigation centres on allegations of criminal conspiracy, breach of trust, diversion of public funds, economic sabotage, abuse of office and money laundering involving officials of the Nigerian National Petroleum Company Limited (NNPCL), its subsidiary, the NNPC Engineering and Technical Company Limited (NETCO), former and serving managing directors of the Port Harcourt, Warri and Kaduna refineries, as well as major contractors including Daewoo Engineering Nigeria Limited and Tecnimont SPA.

The federal government, through the NNPCL, awarded contracts worth approximately $2.79 billion between 2021 and 2023 for quick-fix repairs, turnaround maintenance and rehabilitation of the Port Harcourt, Warri and Kaduna refineries.

The contracts included approximately $740.7 million for Kaduna Refining and Petrochemical Company, $492.3 million for Warri Refining and Petrochemical Company, and $1.56 billion for the Port Harcourt Refining Company, which was awarded to Daewoo Engineering Nigeria Limited, Tecnimont SPA and other subcontractors.

Despite the huge financial commitment, investigators said they found no evidence of commensurate improvements in the operational status of the facilities, which suggests that over time, funds released have been criminally diverted or embezzled.

Investigators say their findings show that substantial portions of the funds were diverted, misappropriated or fraudulently disbursed by officials entrusted with executing the projects.

Investigation

Last year, PREMIUM TIMES reported that the EFCC arrested several top officials of the NNPC in connection with the alleged multi-billion naira fraud associated with the rehabilitation of the refineries. At the time, both former and current officials of the company were apprehended, including a former Chief Financial Officer, Umar Isa; Tunde Bakare, managing director, Warri Refinery; Ahmed Adamu Dikko, former managing director, Port Harcourt Refinery; and Ibrahim Onoja, former managing director, Port Harcourt Refinery.

Investigators scrutinised procurement procedures, analysed how contract funds were utilised, assessed the level of project execution and sought to identify systemic weaknesses allegedly exploited to facilitate fraud. Over the past year, the EFCC has interrogated over 30 top officials of the NNPC in connection with the alleged crime. Similarly, more than 50 officials of the companies and subcontractors involved in the maintenance deals have been quizzed by investigators so far.

In the course of the investigation, the EFCC sought clarifications from the Corporate Affairs Commission (CAC). Several letters were reportedly written to ascertain the authenticity and original owners of companies involved, several bank accounts of individuals involved were thoroughly reviewed, and information was sought from the Central Bank and several commercial banks on the matter.

According to the findings, the investigators uncovered widespread violations of contractual procedures, questionable payment approvals and alleged manipulation of procurement processes.

EFCC sources told this newspaper that many of the irregularities were facilitated by officials across different levels of management, with several senior staff allegedly approving questionable payments and execution certificates in violation of established financial controls.

Officials implicated

One of the officials named in the investigation, Ahmed Dikko, a former managing director of the Port Harcourt Refinery, was accused of abusing due process in the execution of the Port Harcourt refinery rehabilitation contract.

Investigators alleged that Mr Dikko approved the direct payment of contractors from provisional sum funds, contrary to contractual provisions requiring such contractors to be engaged and paid by Tecnimont.

The EFCC said it traced N983.9 million, $227,030 and three landed properties to the official, assets it said he could not satisfactorily account for.

An interim forfeiture order has already been secured over the properties, while prosecutors are preparing criminal charges against him.

The investigation also established what it described as a prima facie case against Jimoh Yisawu over the rehabilitation of the Warri refinery, sources said.

Investigators accuse Mr Yisawu, a senior official at the refinery, of approving payments to unqualified third-party contractors, authorising inflated invoices and approving contractual mark-ups amounting to more than $10 million and nearly N8 billion.

He was also accused of approving payment vouchers without the required cash-back arrangements, allegedly resulting in losses of about $7.47 million and N1.89 billion in tax revenue.

Investigators said they traced more than N1.4 billion and four landed properties to Mr Yisawu, assets that investigators said he failed to satisfactorily explain.

The properties have also been placed under interim forfeiture pending prosecution.

Billions recovered

The EFCC has, so far, recovered N9.4 billion and $21.2 million, which have been paid into its recovery accounts, sources told this newspaper.

An additional $2.32 million was reportedly recovered through the Federal Inland Revenue Service (FIRS).

Investigators also disclosed that a separate case involving alleged revenue fraud amounting to $28.39 million and N665 million has been established against the management of the Port Harcourt Refining Company, with efforts underway to recover the funds.

No functional refinery despite $2.8 billion contracts

The investigation raises fresh questions over the effectiveness of the multi-billion-dollar refinery rehabilitation programmes initiated by the federal government.

Investigators stressed that the probe remains ongoing and that additional recoveries and prosecutions are expected as more evidence emerges.

Efforts to obtain the reaction of the NNPCL and the officials named in the investigation were unsuccessful as of the time of this report. Their responses will be reflected when received.

Background

Nigeria has four state-run refineries, including two in Port Harcourt, which together form the Port Harcourt Refining Company, with a combined installed capacity of 210,000 barrels per day (bpd).

The Kaduna Refining and Petrochemical Company Limited has an installed capacity of 110,000 bpd, while the Warri Refining and Petrochemical Company Limited has an installed capacity of 125,000 bpd.

All four refineries have a combined installed capacity of 445,000 bpd.

Despite significant cash injections aimed at getting the plants to run optimally for many years, the refineries continue to grapple with operational constraints and have not operated at optimal capacity for decades.

The Warri Refinery, which reopened in December 2024, shut down in January 2025 due to safety issues. In May 2025, NNPC announced an outage at the Port Harcourt Refinery, preparatory to scheduled maintenance.

In October 2025, NNPC announced that it had initiated a comprehensive technical and commercial review of its three refineries to ensure optimal performance and sustainability.

The goal of the overhaul, according to NNPC, is to position the corporation for its big role as a supplier of petroleum products of last resort, as stipulated by the Petroleum Industry Act, while ensuring the efficient and profitable operation of the refineries.

Following the failure to revamp the country’s refineries, the federal government and the NNPC have continued to seek strategic investors and technical partners to bring the state-owned refineries back to life, amid efforts to reduce dependence on imported petroleum products and improve domestic refining capacity.

In May, NNPC announced that it signed a Memorandum of Understanding (MoU) with two Chinese companies to support the completion, operation, and possible expansion of the Port Harcourt and Warri refineries.

At the time, the NNPC Chief Executive, Bayo Ojulari, disclosed that the agreement was signed with Sanjiang Chemical Company Limited and Xinganchen (Fuzhou) Industrial Park Operation and Management Co., Ltd. in Jiaxing City, China, on Thursday, 30 April. However, details of this agreement with these companies are still sketchy.

SOURCE:- https://www.newsngr.com/nnpcl-refinery-maintenance-fraud-fraud-efcc-seizes-%e2%82%a638-6b-and-properties-exclusive/

The Economic and Financial Crimes Commission (EFCC) has recovered over ₦5 billion and $10 million from contractors and government officials indicted in fraudulent activities surrounding the turnaround maintenance of Nigeria’s refineries in Port Harcourt, Kaduna, and Warri.

Findings by Punch revealed that the anti-graft agency is also working to recover another ₦10 billion and $13 million allegedly siphoned through contractors engaged in the projects.

It was learnt that EFCC Chairman, Ola Olukoyede, personally took charge of the investigation, expressing displeasure over the non-functional state of the refineries despite decades of massive public spending.

Nigeria’s four refineries have been largely dormant for decades despite successive administrations allocating billions of dollars for turnaround maintenance. Yet, the facilities in Warri, Kaduna, and Port Harcourt have remained dormant, forcing the country to heavily depend on imported petroleum products.

Investigations by the EFCC are focusing on funds allocated to the refineries, including $1.55bn to the Port Harcourt refinery, $740m to the Kaduna refinery, and $656m to the Warri refinery.

Top sources disclosed that fraudulent practices such as over-invoicing, contract inflation, and questionable payments were responsible for the refineries’ failure to function optimally.

One source said, “Our investigation into the turnaround maintenance of the nation’s refineries in Warri, Kaduna, and Port Harcourt has yielded major discoveries of large-scale fraud. Investigators discovered fraudulent dealings through over-invoicing, contract inflation and questionable payments.”

According to insiders, former management teams of the refineries were repeatedly grilled, while some serving and retired officials of the Nigerian National Petroleum Company Limited (NNPCL) are also being investigated.

The source added, “A total sum of $10m and ₦5bn have so far been recovered from suspects indicted in the fraud. The recoveries were made from contractors and government officials involved in over-invoicing and inflated payments.”

Another source confirmed that the commission is on track to recover additional sums, saying, “While we have recovered some money, another $13m and N10bn discovered to be siphoned through contractors engaged in the maintenance are due to be recovered.”

The EFCC is also investigating fresh allegations of contract inflation worth $40 million, allegedly involving NNPC officials and contractors engaged to procure equipment for rehabilitation works.

The EFCC’s Head of Media and Publicity, Dele Oyewale, could not be reached for comments as of press time. However, a senior official of the commission confirmed the recovery, noting that charges may soon be filed against some of the indicted officials.

Details:- https://www.newsngr.com/nnpc-refinery-scandal-efcc-recovers-n5bn-10m-ex-nnpcl-officials-face-trial/

The Vanguard for Probity and Accountability has accused the board of the Nigerian National Petroleum Company Limited (NNPCL) of extravagance amid ongoing financial controversies.

In a statement issued in Port Harcourt on Thursday, Joel Abba, national coordinator of the group, alleged that the NNPCL board has concluded plans to fly to Kigali, Rwanda, this Friday using five private jets.

He claimed the jets were arranged by the son-in-law of a highly influential politically exposed person and the entire trip would cost over N1 billion.

His words: “The discovery leaves more to be desired. To add salt to injury, the board has planned an extravagant trip to Kigali, Rwanda this Friday on five private jets, which amount to over a billion naira.

“This is absurdity taken too far. We are obviously being taken for granted by this crop of leaders manning our oil sector.

“Little wonder Nigerians have been paying heavily on petrol just for a few individuals to finance an obscene lifestyle.”

Abba also accused the NNPCL of financial recklessness, citing recent revelations by the senate over discrepancies totaling more than N210 trillion in the company’s audited accounts from 2017 to 2023.

The senate, during a hearing on Wednesday, gave the NNPCL one week to explain what lawmakers described as “mind-boggling” irregularities in accrued expenses and receivables in its financial statements.

Aliyu Wadada, chairman of the investigative committee, labeled the discrepancies as “unacceptable” and vowed that the Senate would exercise its full oversight powers to get accountability from the oil company.

Backing the Senate’s probe, Abba said the NNPCL has shown “crass insensitivity, arrogance, and a lack of accountability” and called on the upper legislative chamber to remain firm.

He said the situation raises serious questions about the use of public resources at a time when many Nigerians are grappling with economic hardship.

Source:- https://www.newsngr.com/nnpcl-board-hired-five-private-jets-to-fly-to-rwanda-for-retreat-group-reveals/

A Federal High Court in Kaduna has ordered the interim forfeiture of N1.37 billion Kaduna State fund allegedly hidden in a Sterling Bank account with no proper documentation,.

The judge, H. Buhari, issued the forfeiture order on February 28, following an ex parte application by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), which had previously filed the motion on February 14.

The fund was said to have been misappropriated from the Kaduna State Government’s coffers during the tenure of former Governor Nasir El-Rufai.

According to the ICPC, the fund, originally allocated for light rail project was diverted during El-Rufai’s administration. The controversial transfer was uncovered after the ICPC traced the funds to a private account.

According to the anti-graft agency, the diverted money was funneled through Indo Kaduna MRTS JV Nig. Ltd, a joint venture formed in 2016 between the Kaduna State Government and Indian investors.

ICPC’s lawyer, E.O. Akponimisingha, represented the agency during the hearing, which was conducted without the presence of any opposing parties.

In granting the forfeiture, the court ordered the ICPC to publish a public notice in two national newspapers, inviting anyone with a legitimate claim to the funds to present their case in court. Further proceedings have been scheduled for April 8, 2025.

The scandal dates back to December 2016 when, despite the Indo Kaduna MRTS JV Nig. Ltd not being formally incorporated until May 2017, Governor El-Rufai approved payments to the company. Between December 2016 and January 2017, a total of N11.1 billion was transferred to the company’s Sterling Bank account. The ICPC’s investigation revealed that N1.37 billion of this sum was illegally diverted into a private account.

In justifying the forfeiture, the ICPC emphasized that the redirection of the funds into public projects aligns with the broader public interest, particularly in enhancing governance and accountability. The commission further asserted that this action would not violate any constitutional rights and would instead serve the greater good by recovering the misappropriated funds.

The investigation was launched after a petition was filed by lawyer M. Yahaya from NUS’ AB Chambers in Abuja, detailing concerns of severe financial mismanagement during El-Rufai’s administration. Other officials from the former governor’s administration are also facing allegations of fraud and corruption, with some already facing charges before various tribunals and anti-corruption bodies.

While the former governor and his associates maintain their innocence, calling the ICPC’s actions “oppression” and an “abuse of power,” they argue that the seizure of funds tied to the light rail project could harm foreign investments in the state.

The case is ongoing, and further developments are expected following the adjournment to April 8.

Source:- https://www.newsngr.com.ng/2025/03/court-orders-seizure-of-n1-37bn-kaduna-fund-hidden-in-sterling-bank/

Ondo Finance Commissioner Drags Betty Akeredolu Anyanwu to Court Over N1 Billion Defamation Claim

A High Court in Akure, Ondo State, has issued a summons to Mrs. Betty Anyanwu-Akeredolu, the widow of former Ondo State Governor Rotimi Akeredolu, following a defamation suit filed by the state’s Commissioner of Finance, Mrs. Omowumi Isaac.

The legal action stems from an interview published in Starnews online newspaper on February 13, 2025, where Mrs. Anyanwu-Akeredolu made controversial statements about her late husband’s medical treatment and allegedly made accusations of corruption against the finance commissioner.

Court documents reveal that the summons, marked HCAK/53/CIV/2025, requires Mrs. Anyanwu-Akeredolu and her associate, Mr. Olumide Akinrinlola, to appear in court within 30 days. The lawsuit seeks:

N1 billion in damages, including exemplary damages
A perpetual injunction preventing further publication of the alleged defamatory statements
A full-page retraction and apology in two national newspapers

The dispute originated from Mrs. Anyanwu-Akeredolu’s interview, where she claimed that if her late husband had listened to her medical advice regarding his prostate cancer, she would not have been widowed. She advocated for orthodox medicine, while the late governor reportedly preferred prayer-based treatment.

Mrs. Isaac’s primary grievance centered on allegations that Mrs. Anyanwu-Akeredolu had implied corruption in her removal from the governor’s cabinet. Prior to filing the lawsuit, Mrs. Isaac’s lawyer had issued a seven-day ultimatum demanding a retraction of the statements.

The court has warned that failure to respond could result in the case proceeding and a judgment being made in the defendants’ absence.

Source: https://www.newsngr.com.ng/2025/03/ondo-state-finance-commissioner-sues-betty-anyanwu-akeredolu-for-n1-billion-in-defamation-lawsuit/

Heir Energies has expressed delight with the fixing of its Agbda 2 delivery line by Pipeline Infrastructure Nigeria Limited (PINL) adding that the gesture will contribute to the restoration of the full production potential of the asset.

Heirs said this in a letter addressed to the Managing Director Pipeline Infrastructure Nigeria Limited.

The Tony Elumelu-owned Heirs Energies is in charge of Train 2 of the Agbada Non-Associated Gas (NAG), at the 80mmscf/d capacity gas production facility located in Port Harcourt, Rivers State.

The Agbada fields is located at OML 17 area for crude oil exploration and consists of Agbada 1 and Agbada 2 flow stations.

But the delivery lines recently experienced leakage which was fixed by PINL.

Heirs Energies said, “We write to commend your organisation on the exemplary efforts displayed during the recent repair works conducted by your good selves on our Agbada 2 delivery line. In particular, we appreciate the expeditious manner in which your team mobilised resources to assess and proffer a solution to the challenging terrain in which the leak was discovered.

“In addition, we also commend the team on the professional behavior and proactive attitude that was displayed during the course of repairs. Furthermore, your gracious gesture to conduct the works on a gratis basis is well received with thanks.

“Your support has contributed significantly toward the restoration of our full production potential to which Heirs Energies, the Joint Venture and the nation are most appreciative.”

Heirs Holding enjoined PINL to keep up the high level of professionalism.

Source:- https://www.geoplace.com.ng/heirs-holding-applauds-pinl-for-fixing-agbada-2-pipeline/

AFRIFF Owner Chioma Ude Faces Major Crisis as Court Permits Fidelity Bank to Initiate Bankruptcy Proceedings

A Federal High Court in Lagos State has granted permission for creditors to initiate bankruptcy proceedings against prominent billionaire businesswoman Chioma Ude concerning an alleged debt of ₦1,700,000,000 (One Billion, Seven Hundred Million Naira).

Niyi Odunmorayo, Media Relations Executive at Olisa Agbakoba Legal (OAL), announced on Monday that this decision was made on April 30, 2024, after the court reviewed arguments from the creditor’s counsel, OAL Legal.

Justice Allagoa, who granted the request for bankruptcy proceedings, stated that the creditors had presented sufficient preliminary evidence to substantiate their claims against Ude.

Bankruptcy proceedings are considered a highly assertive method for debt recovery. If the court declares Ude bankrupt, it would significantly restrict her ability to conduct business activities both in Nigeria and internationally.

A bankruptcy declaration would require Ude to reveal all her assets and liabilities, with the possibility of her properties being sold to pay off the debts. Ude is a prominent figure in the Nigerian business community, with investments in various sectors such as real estate and entertainment.

This development has caused a stir in the business community, with many expressing surprise at the news.

The court proceedings will resume on June 17, 2024, when Ude or her legal representatives are expected to present their defense. The outcome of these proceedings could have major implications for Ude’s business ventures and her standing in the business world.

Source:- https://naijaonpoint.com.ng/afriff-owner-chioma-ude-faces-major-crisis-as-court-permits-fidelity-bank-to-initiate-bankruptcy-proceedings/

SEPLAT Energy, Nigeria’s leading energy company, conducted its annual ‘Eye Can See’ flagship program in partnership with NNPCLtd, treating approximately 2,000 individuals with eye-related ailments.

The event, held at the Oba of Benin Palace grounds in Benin City, Edo State capital, is part of the company’s Corporate Social Responsibility (CSR) initiative.

The program includes screening patients for prescription eyeglasses, performing eye surgeries for cataracts, and providing medication for patients. Since its inception in 2012, the initiative has been instrumental in providing over 90,000 surgeries, distributing more than 45,000 prescription glasses, and screening hundreds of thousands of individuals.

SEPLAT’s Managing Director, Roger Brown, highlighted the company’s commitment to improving eye care and overall healthcare in the community. The event underscores SEPLAT’s dedication to corporate citizenship and making a positive impact on the lives of Nigerians.

“Eye Can See, as you know, is SEPLAT Energy Plc flagship programme. It is our eye Health CSR programme. It is designed to provide quality eye healthcare to people around the areas where we operate and that is why every year, we spend a lot of money to ensure that the programme is extended to people that are within our communities and in places like the palace that is associated with the communities by extension because this place falls within the realm and kingdom of our Royal father, the Oba of Benin.

“So, SEPLAT and our JVC partners, we are committed to continuing with this programme and that is why we are here this year, and all we can ask for from you all here is to continue to cooperate with us as well as to continue to take advantage this programme offers and to help spread the news round for others to also take advantage of the programme for healthy eye care.

“We have been doing this programme over the years and we have done more than 90,000 surgeries and provided more than 45,000 prescription glasses and also screened a lot of people. Those screened are hundreds of thousands.

“We don’t just treat the ailment or do the surgery, we also try to take care of the things that can lead to eye defect such as diabetes, high blood pressure and other related diseases.

“So, it is a programme that takes comprehensive health of the people by providing drugs for such ailment because if you are treating them and you still have those things the ailment will continue.

“It is a comprehensive programme that we offer to take care of comprehensive health care of the people.

“We have spent millions of naira and dollars because some of the items come from outside the country. But we are concerned about the impact on our host community because the people who can’t afford medical care, and surgery are taken care of and we have seen the lives of people being transformed”, Otokhine stated.

One of the beneficiaries, Stanley Akhere, 57, said he had been having eye problems in the last 15 years “but today I can see clearly.”

“I have been to the hospital for treatment but I have not been able to do due to high cost.

“I thank Seplat for the programme because I am able to see again through their programme.

“I have been to other hospitals. At a Hospital I visited about three years ago, the cost of eye surgery was about N150,000 but now I heard that the cost is between N350,000 and N400,000.

Source:- https://enews.com.ng/2024/03/seplat-treats-2000-patients-for-eye-related-ailments-in-benin/