The former Governor of Delta State and the Vice Presidential candidate for PDP in the last General Election, Ifeanyi Okowa was arrested on Monday, November 4, 2024, in Port Harcourt, Rivers State, when he reported at the Port Harcourt Directorate of the Nigeria’s Anti graft agency, Economic and Financial Crimes Commission on the invitation of investigators handling his matter.
The reasons for his arrest are as follows:
- For alleged diversion of N1.3 trillion 13% derivation fund from the federation account between 2015 and 2023.
- He failed to render accounts of the funds as well as another N40 billion he allegedly claimed he used to acquire shares in UTM Floating Liquefied Natural Gas.
- Okowa allegedly bought shares worth N40 billion in one of the major banks in the country representing 8% equity to float the offshore LNG. The funds were alleged to be used for other purposes.
- Investigators are also investigating the diversion of funds by the former governor to acquire estates in Abuja and Asaba in Delta state.
He is being held at the EFCC holding facility in Port Harcourt.
