Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested former governor of Delta State, Ifeanyi Okowa, over alleged diversion of N1.3trillion State funds.
Okowa was arrested yesterday for the alleged diversion of the funds, said to be part of the 13% Derivation Funds earmarked for oil-producing States.
Sources at the Commission said that the former governor was being investigated for alleged diversion of funds to acquire estates in Abuja and Asaba in Delta State.
EFCC Spokesperson, Dele Oyewale, confirmed Okowa’s arrest to newsmen yesterday night.
Officials said that the former Delta governor and former Vice-Presidential candidate of the Peoples Democratic Party (PDP) was taken into custody at the Port-Harcourt division of the anti-graft office.
Okowa was alleged to have used his office as governor to loot and acquire assets up to N1.3 trillion. Some of the assets included massive shares in UTM Floating Liquefied Natural Gas Company, among other investments in the oil sector.
The National Bureau of Statistics, (NBS), had reported how the Federation Account Allocation Committee (FAAC) disbursed the among the oil-producing States, the 13% Derivation Fund.
