In a high-stakes anti-corruption crackdown, the Economic and Financial Crimes Commission (EFCC) has arrested several former managing directors and top officials of Nigeria’s state-run refineries over the alleged diversion and mismanagement of $2.96 billion allocated for refinery rehabilitation projects. Among those arrested are: Mr. Ibrahim Onoja, former Managing Director of Port Harcourt Refining Company Ltd (PHRC); Mr. Efifia Chu, former Managing Director of Warri Refining and Petrochemical Company Ltd (WRPC); Senior officials of the Kaduna Refining and Petrochemical Company Ltd (KRPC)
Breakdown of the Investigated Funds
The EFCC is probing the disbursement of the following amounts: $1,559,239,084.36 for Port Harcourt Refinery, $740,669,600 for Kaduna Refinery, $656,963,938 for Warri Refinery. Despite the allocation of nearly $3 billion for turnaround maintenance, none of the refineries have resumed full operations, prompting widespread criticism and demand for accountability.
N80 Billion Found in Personal Account
According to reliable sources within the Nigerian National Petroleum Company Limited (NNPCL), an internal investigation uncovered N80 billion in a personal account linked to one of the dismissed MDs. The account was flagged during a routine audit, further deepening suspicion of large-scale fraud and money laundering
Reactions from Government and Civil Society
In response, the Nigerian Senate has inaugurated an ad hoc committee to investigate all refinery rehabilitation contracts awarded between 2010 and 2023. Reports suggest that over N11.35 trillion has been spent in that period without functional output.The Socio-Economic Rights and Accountability Project (SERAP) has also called for a public disclosure of all refinery spending, including over N825 billion and $2.5 billion cited in the 2021 Auditor-General’s report.Renowned human rights lawyer, Femi Falana (SAN), has joined the call for transparency, describing the case as “not just corruption, but economic sabotage.”
What’s Next?
EFCC officials have confirmed that the investigation is ongoing, with asset tracing, document analysis, and additional arrests underway. The Commission has also hinted at possible international collaboration to track funds moved abroad. This case is expected to serve as a litmus test for President Bola Ahmed Tinubu’s commitment to anti-corruption reforms and petroleum sector transparency.