The Economic and Financial Crimes Commission (EFCC) has seized the international passport of former Delta State Governor, Ifeanyi Okowa, following his arrest on November 4, 2024, over allegations of diverting N1.3 trillion in derivation funds.
The N1.3 trillion in question refers to the 13% derivation funds from the Federation Account that were meant for Delta State between 2015 and 2023.
Okowa is also accused of failing to account for these funds and an additional N40 billion that allegedly went into acquiring shares in UTM Floating Liquefied Natural Gas (LNG) and in a major Nigerian bank, representing an 8% equity stake in the LNG venture.
According to EFCC sources, Okowa was arrested at the commission’s office in Port Harcourt, Rivers State. However, he was released the following Wednesday after meeting the bail conditions, which included surrendering his travel documents to the EFCC.
A source familiar with the matter confirmed that Okowa is no longer in custody, but his passport remains with the agency pending the conclusion of its investigation.
One source stated: “Okowa was released last Wednesday after meeting his bail conditions, which included submitting his travel documents to us. This measure is in place to prevent him from fleeing the country during the ongoing investigation.”
Despite being granted bail, Okowa has publicly denied the allegations, calling them “laughable” and “completely false.”
In a statement made during a visit from the national leadership of the Urhobo Progress Union (UPU) at his residence in Asaba, he said he was not concerned about the EFCC’s investigation, emphasizing his confidence that he would be exonerated.
According to Okowa, the petition that led to his EFCC invitation was politically motivated, asserting that some individuals with personal grievances against him orchestrated the allegations.
He stated, “The petition was written months ago, and it’s clear that some people decided to ensure that I was invited by the EFCC. But I went willingly, and when I saw the claim that I misappropriated N1.3 trillion, I couldn’t help but laugh. It’s absurd.”
He further explained that such an amount, if truly misappropriated, would require siphoning between N16 billion and N20 billion every month.
He also recalled how, during his tenure, Delta State faced significant financial difficulties, with periods when the state government struggled to pay salaries, particularly in the early years of his administration.
“The money that came into the state during the first three years of my tenure was barely enough to pay salaries. At the time, many local governments, like Ethiope East, were in arrears of up to 15 months’ worth of salaries. But despite these challenges, Delta became the highest salary-paying state in Nigeria, with over 56,000 workers.” He said.
While defending his record, Okowa emphasized that the allegations against him were unfounded and that he had always acted in the best interests of Delta State.
He also pledged continued support for Governor Sheriff Oborevwori, who succeeded him in office.
Okowa expressed confidence that Oborevwori, with the backing of the UPU and other groups, would continue to deliver on the mandate given to him by the people of Delta.
“I know Governor Oborevwori has a lot to offer, and by next year, he will accomplish even more. I will continue to support him and the UPU, just as they supported me over the years.”
The UPU, in turn, expressed their gratitude to Okowa for his support of Oborevwori’s gubernatorial bid, noting that the former governor had always been a strong ally of the Urhobo people.
