News

$3bn Refinery Fraud: N80bn Found In sacked MDs’ Bank Accounts

Published

6 months ago

May 3, 2025

The Economic and Financial Crimes Commission has arrested the recently sacked managing directors and some top officials of the Port Harcourt Refining Company, Warri Refining and Petrochemical Company, and Kaduna Refining and Petrochemical Company.
The officials were arrested over alleged mismanagement of funds earmarked for the rehabilitation of the facilities. The total amount under investigation is $2,956,872,622.36.

Findings by The PUNCH showed that the EFCC is probing the sum of $1,559,239,084.36 allocated to the Port Harcourt refinery, $740,669,600 released for the Kaduna refinery, and $656,963,938 approved for the Warri refinery.

The ex-Managing Director of Port Harcourt Refining Company Ltd is Mr Ibrahim Onoja, while Efifia Chu served as the ex-Managing Director of the Warri Refining and Petrochemical Company Ltd.

This came as impeccable top management sources at the Nigerian National Petroleum Company Limited revealed that N80bn was found in the account of one of the sacked MDs.

Also, operators and experts in the sector lambasted NNPCL for deceiving Nigerians regarding the operations of the refineries, particularly the Port Harcourt and Warri plants, following the poor output from the facilities since their resumption of operations in November and December 2024.

Dashed hope

NNPCL manages the three refineries for Nigerians. The plants had remained dormant for decades, but the Port Harcourt and Warri refineries resumed operations in November and December 2024, respectively.

However, less than one month after the Warri refinery resumed operations, the plant was again shut down due to safety concerns.

The Port Harcourt refinery, on the other hand, has been operating below 40 per cent of its capacity since its widely celebrated revamp.

On Tuesday the new NNPCL management fired the managing directors of the three refineries under its purview.

Some other senior officials of the national oil firm were also asked to leave; among them was Bala Wunti, a former chief of the National Petroleum Investment Management Services, a subsidiary of the NNPCL.

The new management also asked many officials with one year to their various retirement dates to leave.

Arrest of suspects

A senior EFCC source revealed that the arrests of the three ex-MDs and top officials were part of an ongoing investigation into the billions of dollars released for the quick-fix maintenance of the three state-owned refineries.

“We are investigating the money that was released for the rehabilitation of all three refineries—money disbursed in recent times. All the principal officers within that time frame are being invited.

“Some have been arrested already, and we are still on the lookout for others. Nigerians are interested in seeing our refineries work. We are asking: where is the money, and what has happened to the refineries?” the official said.

The source added that the investigation was far-reaching, covering all key actors involved in the management of the refineries during the period in question.

The EFCC spokesman, Dele Oyewale, could not be reached as of the time of filing this report.

Earlier, sources at the NNPCL told The PUNCH that one of the sacked MDs had been with the EFCC for about a week.

“Large amounts have been discovered in his accounts. About N80bn has so far been discovered in his various accounts. The way things are going, it may be bigger than Emefielegate,” the official, who spoke in confidence due to the nature of the probe, stated.

Another official stated, “All the three of them are being investigated by the EFCC. It is indeed sad!”

Kyari under probe

A document obtained by The PUNCH on Friday from NNPCL, dated April 28, 2025, and titled, ‘Investigation Activities: Request for Information’, indicated that the probe by EFCC included the immediate past Group Chief Executive Officer of the national oil firm, Mele Kyari.

The EFCC document was addressed to the Group Managing Director (Group Chief Executive Officer) of the national oil company and contained the names of 13 other former senior executives of the NNPCL.

“The commission is investigating a case of abuse of office and misappropriation of funds in which the underlisted officials of your organisation featured,” the document stated.

It outlined the officials to include Abubakar Yar’Adua, Mele Kyari, Isiaka Abdulrazak, Umar Ajiya, Dikko Ahmed, Ibrahim Onoja, Ademoye Jelili, and Mustapha Sugungun.

Others are Kayode Adetokunbo, Efiok Akpan, Babatunde Bakare, Jimoh Olasunkanmi, Bello Kankaya and Desmond Inyama.

“In view of the above, you are kindly requested to furnish certified true copies of their emoluments and allowances, including that of those who have retired and no longer work with your organisation,” the anti-graft commission told the NNPCL boss.

The spokesperson for the NNPCL, Olufemi Soneye, has remained mute over allegations against top officials of the company, as he ignored repeated enquiries on the matter.

Lies uncovered

Although this is not the first time the company has feigned the effectiveness of its operations, citizens have noted that the lack of transparency not only deepens public distrust but also fuels speculation about the company’s true intentions and the actual state of Nigeria’s oil infrastructure.

On Tuesday the NNPCL came under fire as the $897m Warri refinery revamp flopped.

The $1.5bn newly repaired Port Harcourt refinery had been struggling at under 37.87 per cent production capacity.

This was after the revelation that the Warri Refining and Petrochemical Company had remained shut since January 25, 2025, due to safety issues in its Crude Distillation Unit Main Heater.

An April 2025 document on the Midstream and Downstream sector obtained from the Nigerian Midstream and Downstream Petroleum Regulatory Authority revealed that the refinery, which consumed $897.6m in maintenance costs, failed to produce Premium Motor Spirit (petrol) and was shut down barely a month after former NNPCL boss, Kyari, declared it operational.
(PUNCH)

News

Ovia South West Council Chairman, Edobor Bags National Merit Award

Published

13 hours ago

October 24, 2025

Editor

The Acting Chairman of Ovia South West Local Government Council in Edo State, Hon. Charles Nosakhare Edobor, has bagged the 2025 Nigerian Local Government Merit Award (LOGMA).

He was awarded as the Best Performing Local Government Chairman in Nigeria (Security and infrastructure development, purposeful leadership).

Speaking after being conferred with the prestigious award, Edobor applauded the organizers for recognizing his administration’s commitment to localizing good governance.

He highlighted his leadership’s remarkable strides in building a sustainable, livable, and prosperous council area through numerous people-oriented programmes and projects-particularly in road infrastructure and the provision of basic social amenities.

Edobor dedicated the award to the Governor of Edo State, Senator Monday Okpebholo, and to the good people of Ovia south west Local Government Area.

He expressed satisfaction with the honour. He emphasized that the award would further spur him to work harder in pursuing people-centred programmes aligned with Senator Monday Okpebholo’s S.H.I.N.E and President Bola Ahmed Tinubu’s Renewed Hope Agenda.

Edobor commended Governor Okpebholo for his visionary leadership and unwavering support for local government administrations across the state.

He reaffirmed his administration’s commitment to deepening rural development, empowering youth and women, and ensuring the dividends of democracy reach every ward in Ovia south west local government.

Earlier, in his welcome address at the event which held on Wednesday at the National Merit House, Abuja, the National Coordinator of LOGMA, Chief Bayode Ojo, stated that the award was designed to showcase the achievements of local government chairmen and reward excellence in grassroots governance – particularly those who have demonstrated exceptional commitment to promoting grassroots development despite the challenges confronting the third tier of government.

He congratulated all the awardees for making the final list after rigorous scrutiny and spot-checking of some of their executed projects to verify the authenticity of their claims.

Chief Ojo further urged the awardees to continue to be shining examples of sustainable growth at the grassroots and in the country at large.

News

JUST IN: Tinubu Sacks CDS Musa, Names New Army Boss

Published

14 hours ago

October 24, 2025

Editor

President Bola Tinubu has made changes in the hierarchy of the Service Chiefs in furtherance of the efforts of the Federal Government of Nigeria to strengthen the national security architecture.

The President appointed General Olufemi Oluyede to replace General Christopher Musa as the new Chief of Defence Staff.

More to follow…

News

Lagos Inaugurates 24-hour Traffic Management Operations

Published

1 day ago

October 23, 2025

Editor

The Lagos State Government has launched two transformative initiatives designed to recalibrate traffic governance and restore environmental sanctity across the metropolis.

In a visionary bid to guarantee seamless mobility and safe commuting at all hours, the Lagos State Traffic Management Authority (LASTMA) has formally instituted a 24-hour operational framework for traffic management and enforcement across Lagos State.

The groundbreaking initiative, officially commissioned by the Special Adviser to the Governor on Transportation, Sola Giwa, constitutes a seminal moment in the evolution of Lagos’s transportation governance.

It manifests Governor Babajide Olusola Sanwo-Olu’s strategic ambition to ensure the uninterrupted movement of people, goods and services within Nigeria’s economic epicentre—a city that operates continuously, unhindered by congestion or disorder.

According to Giwa, the 24-hour operational regime epitomises the administration’s steadfast dedication to constant vigilance, operational efficiency and disciplined traffic regulation, especially as the metropolis approaches the festive period, traditionally characterised by heightened vehicular and commercial activity.

This information was contained in a statement yesterday by the Director, Public Affairs and Enlightenment Department of LASTMA, Adebayo Taofiq.

He elaborated that the framework is meticulously designed to facilitate continuous monitoring, rapid emergency response and immediate clearance of traffic obstructions irrespective of time, thereby mitigating congestion and enhancing the commuter experience.

“This initiative exemplifies the Lagos State Government’s resolute commitment to safeguarding mobility, preserving lives and sustaining economic productivity through perpetual traffic oversight,” Giwa stated.

A pivotal component of the initiative is the establishment of the Night Rapid Response Gang, a specialised unit within LASTMA charged with swiftly addressing nocturnal traffic incidents, including vehicular breakdowns, collisions and other obstructions along critical arteries of the metropolis.

In tandem with these traffic management reforms, the Lagos State Government also executed a comprehensive clearance operation along Apapa Road, Costain and the Ijora Under Bridge, eliminating illegal structures, shanties and unregulated trading that had long obstructed free vehicular flow and compromised public safety.

The far-reaching enforcement exercise, spearheaded by Sola Giwa in coordination with LASTMA, the Nigeria Police Force, Mobile Police (MOPOL), the Lagos State Task Force and the Lagos State Environmental Sanitation Corps (LAGESC), culminated in the removal of unauthorised traders, makeshift structures and multiple environmental infractions.

During the operation, enforcement teams uncovered an illegal diesel dumping site and impounded substantial quantities of expired plantain chips and cheese balls, stored under unsanitary conditions—a testament to the government’s prioritisation of public health and environmental integrity.

The exercise followed persistent warnings and public sensitisation campaigns urging illegal occupants under bridges to vacate. Teams also identified blocked drainage channels choked with metallic debris, contributing to perennial flooding and environmental degradation.

Furthermore, several commercial buses and tricycles operating unlawfully along the newly constructed Costain Bridge and Apapa Road were impounded.

Shanties adjacent to St. Catholic Church School, Apapa Road, were demolished, reinstating the area to its intended urban and educational purpose, while criminal hideouts beneath the Ijora Bridge were dismantled to enhance public security.

Giwa reaffirmed that the Sanwo-Olu administration will not compromise on public safety, environmental protection or the rule of law, stressing that Lagos must remain a city distinguished by structure, order and discipline.

General Manager of LASTMA, Olalekan Bakare-Oki, appealed to traders, transport operators and commuters to comply with government directives, utilise designated markets and parking facilities, and actively support the administration’s efforts to maintain a safe, efficient and orderly metropolis.

He emphasised that the integration of 24-hour traffic management with environmental enforcement represents the Lagos State Government’s holistic approach to sustainable urban mobility—one that blends innovative regulation, proactive enforcement and civic responsibility.