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EFCC Arrests Ex-Refinery Chiefs Over Missing $3bn Rehab Funds
The Economic and Financial Crimes Commission (EFCC) has arrested several former managing directors of Nigeria’s major refineries in connection with the alleged mismanagement of nearly $3 billion earmarked for rehabilitation projects.
Those in custody include former heads of the Port Harcourt Refining Company (PHRC), Warri Refining and Petrochemical Company (WRPC), and Kaduna Refining and Petrochemical Company (KRPC). Among them are Mr. Ibrahim Onoja (PHRC) and Mr. Efifia Chu (WRPC), while the former MD of KRPC remains unnamed as investigations continue.
Findings by Saturday PUNCH reveal that the EFCC is probing the disbursement and use of $2.96 billion allocated for the revamp of the three refineries. The breakdown shows $1.55 billion for Port Harcourt, $740 million for Kaduna, and $656 million for Warri.
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A top source at the Nigerian National Petroleum Company Limited (NNPCL) confirmed that N80 billion was traced to a private account linked to one of the dismissed managing directors, triggering deeper scrutiny.
Industry analysts and civil society groups have accused the NNPCL of misinforming Nigerians about the true operational status of the refineries, despite claims that the Port Harcourt and Warri plants resumed partial operations in late 2024.
Critics argue that output remains critically low, with no visible returns on the massive rehabilitation spending. There are growing calls for a comprehensive audit and prosecution of all involved.