…Moves to prosecute ex-NNPCL officials
The Economic and Financial Crimes Commission (EFCC) has recovered over ₦5 billion and $10 million from contractors and former officials of the Nigerian National Petroleum Company Limited (NNPCL) indicted in the controversial turnaround maintenance of Nigeria’s refineries in Port Harcourt, Kaduna and Warri.
Findings revealed that the anti-graft agency is also pursuing the recovery of an additional ₦10 billion and $13 million allegedly siphoned through inflated contracts awarded for the rehabilitation of the refineries in Port Harcourt, Kaduna, and Warri.
Sources disclosed that EFCC Chairman, Ola Olukoyede, personally took charge of the investigation, expressing displeasure that the refineries remain moribund despite decades of multi-billion-dollar investments in their maintenance.
Nigeria’s four state-owned refineries have been largely non-functional for years, compelling the nation to depend heavily on imported petroleum products. Between them, the Port Harcourt, Kaduna, and Warri refineries received allocations of $1.56 billion, $740.6 million, and $656.9 million respectively for turnaround maintenance.
According to investigators, much of the funds were lost to over-invoicing, contract inflation, and questionable payments, practices that have long plagued Nigeria’s oil sector.
A senior EFCC source confirmed that several former management teams of the refineries have been interrogated multiple times. Some serving and retired NNPCL officials were also indicted, with charges against them expected soon.
“Our investigation uncovered large-scale fraud in the turnaround maintenance projects. So far, ₦5bn and $10m have been recovered from contractors and government officials. We are also on track to recover another ₦10bn and $13m,” the source said.
The Commission is additionally probing fresh allegations of $40 million in inflated contracts involving officials of NNPCL and contractors hired to procure equipment for the rehabilitation works.
As of press time, EFCC spokesperson Dele Oyewale did not respond to calls and text messages seeking official comments. However, a senior official of the Commission, who confirmed the recoveries, said prosecution of indicted individuals would begin soon.
