Agents of the Economic and Financial Crimes Commission (EFCC) have apprehended a former Lead Representative of Delta State, Ifeanyi Okowa, for alleged diversion of N1.3 trillion 13% derivation fund from the federation account between 2015 and 2023.
A source from the anti-graft agency affirmed the former governor’s apprehension to news sources on Monday.
Okowa was apprehended on Monday, November 4, 2024, in Port Harcourt, Rivers State, when he reported at the Port Harcourt Directorate of the EFCC on the invitation of investigators looking into his matter.
The former Lead Representative was said to have neglected to deliver records of the funds, as well as another N40 billion he purportedly claimed he used to procure shares in UTM Floating Liquefied Natural Gas.
Specifically, Okowa purportedly purchased shares worth N40 billion in one of the major banks in the country, representing 8% equity to float the offshore LNG. The assets were claimed to be used for other purposes.
Investigators are likewise looking into the diversion of assets by the former Lead Representative to procure estates in Abuja and Asaba in Delta state.
He is being reprimanded at the EFCC holding facility in Port Harcourt.
Okowa was the running mate to Atiku Abubakar, the presidential candidate of the Peoples Democratic Party (PDP) in the 2023 election.
