Arrest of Former Delta State Governor Ifeanyi Okowa
Ifeanyi Okowa Delta State EX- Governor and also running mate to Atiku Abubakar, the presidential candidate of the Peoples Democratic Party (PDP) in the 2023 elections has just been arrested by the Economic and Financial Crime Commission [EFCC] for misappropriating 1.3 trillion naira from the federation account.
Earlier today Ifeanyi Okowa voluntarily went to the EFCC Port Harcourt directorate, where he was later apprehended and arrested.
He is currently in EFCC custody in Port Harcourt while further investigations are being carried out.
Details of the Allegations
Misappropriation of funds allocated to Delta as an oil-producing state.
Report shows that Okowa can’t give an account for the N 1.3 trillion naira that was handed to him from the federation account from 2015- 2023.
These funds were supposed to be used for the development of Delta State but were obviously diverted for other purposes.
Misused Funds: It’s been reported that Okowa used an extra N40 billion to buy shares in a company called UTM Floating Liquefied Natural Gas (LNG). He also used this money to buy an 8% stake in a major bank. This money was supposed to be used for something else and wasn’t.
Acquisition of Properties: Investigations reveal that some of the stolen funds were used to buy properties in Abuja and Asaba.
Currently the EFCC are looking into the money trails and properties connected to the former governor to gather more evidence.
As the EFCC continues to look into the financial transactions and properties linked to the former governor we will provide more updates on the developments.
Stay tuned for further information.
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