By Chuks Peter DELTA
The Economic and Financial Crimes Commission (EFCC) has detained former Delta State Governor Ifeanyi Okowa over allegations of siphoning over N1.3 trillion in 13% derivation funds between 2015 and 2023. Okowa reportedly surrendered to the EFCC’s Port Harcourt office on Monday following an invitation from investigators.
An EFCC source disclosed to Channels Television that Okowa is under investigation for allegedly using state funds to acquire high-value estates in Abuja and Asaba.
“The allegations involve substantial misappropriation of funds meant for the people of Delta,” the source said.
Additionally, Okowa is accused of diverting N40 billion to purchase equity in a major bank for UTM Floating Liquefied Natural Gas (LNG) projects. These acquisitions, according to sources, were allegedly financed with funds initially allocated for state development initiatives.
Okowa, who served as the running mate to PDP’s Atiku Abubakar in the 2023 presidential election, is being held at the EFCC’s Port Harcourt facility as investigations continue.