The Economic and Financial Crimes Commission has recovered over N5bn and $10m from contractors and former officials of the Nigerian National Petroleum Company Limited indicted in the multi-billion naira fraud that trailed the turnaround maintenance of the nation’s refineries.
Investigations by The Punch revealed that the anti-graft agency is also closing in on another N10bn and $13m allegedly siphoned by contractors and government officials involved in the controversial rehabilitation projects.
Top EFCC sources disclosed that the Commission’s Chairman, Ola Olukoyede, personally took charge of the probe following widespread concerns that the refineries in Port Harcourt, Kaduna and Warri have remained largely comatose despite decades of heavy public investments.
PLATFORM TIMES reports that billions of dollars were allocated for turnaround maintenance across successive administrations, yet the facilities have failed to operate optimally, leaving Nigeria dependent on imported petroleum products.
According to findings, investigators are scrutinising over $1.5bn released for the Port Harcourt refinery, $740m for Kaduna refinery, and $656m for Warri refinery. The probe has so far uncovered rampant cases of over-invoicing, contract inflation, and questionable payments.
“Our investigation into the turnaround maintenance of the nation’s refineries yielded shocking discoveries. Fraudulent practices by contractors and some NNPCL officials were largely responsible for the collapse of the refineries,” one senior EFCC source told The Punch.
The source confirmed that several former management staff of the three refineries had been repeatedly interrogated, with some already facing the prospect of prosecution.
Another senior official revealed that while N5bn and $10m have been recovered so far, efforts were ongoing to track down an additional $13m and N10bn allegedly diverted through inflated contracts.
The Commission is also probing fresh allegations of $40m contract inflation involving equipment procurement for the rehabilitation projects.
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