Operatives from the Economic and Financial Crimes Commission (EFCC) have arrested Ifeanyi Okowa, the former Governor of Delta State, over allegations of misappropriating funds.
The arrest is related to the alleged diversion of N1.3 trillion, which was part of the 13 percent derivation fund allocated to oil-producing states between 2015 and 2023.
Okowa was apprehended in Port Harcourt, Rivers State, after responding to an EFCC summons regarding the issue.
The investigation also involves claims that Okowa used N40 billion to purchase shares in UTM Floating Liquefied Natural Gas, a project under development in Akwa Ibom State, without properly accounting for the funds.
Additionally, the EFCC is looking into allegations of fund diversion for the purchase of properties in Abuja and Asaba.
