Investigation Unfolds as EFCC Probes Mismanagement of Funds in NNPCL Refineries.
By Yahaya Zakka Minna
In a significant development, the Economic and Financial Crimes Commission (EFCC) has arrested former managing directors and senior officials from the Port Harcourt, Warri, and Kaduna Refineries amid allegations of financial mismanagement involving nearly $3 billion earmarked for facility rehabilitation.
The investigations focus on misallocation of substantial funds, with over $1.5 billion traced to the Port Harcourt refinery alone.
Impeccable sources indicate that the EFCC is scrutinizing the financial activities of these officials alongside a broader inquiry into the Nigerian National Petroleum Company Limited (NNPCL), revealing a shocking discovery of N80 billion in one sacked executive’s accounts.
The allegations raise serious questions about the operational transparency and effectiveness of Nigeria’s state-owned refineries, which recently resumed operations after years of dormancy.
As the EFCC’s investigation broadens to include a total of 13 former high-ranking officials, including the former CEO Mele Kyari, the nation watches closely, eager for accountability and effective administration in one of its most critical sectors.
