Nigeria’s Economic and Financial Crimes Commission (EFCC) has arrested Umar Isa Ajiya, the former chief financial officer of NNPC Limited, over allegations of involvement in a $7.2 billion fraud scheme.
According to sources within the anti-corruption agency, Ajiya was detained for his suspected role in the improper handling and misuse of funds allocated for major maintenance work at the Kaduna, Warri, and Port Harcourt oil refineries.
The EFCC is currently investigating approximately $2.96 billion that was released for these refinery upgrade projects. The money was distributed as follows: $1.56 billion went to the Port Harcourt Refinery, $740.67 million to the Kaduna Refinery, and $656.96 million to the Warri Refinery.
A high-ranking EFCC official, speaking on condition of anonymity, confirmed Ajiya’s arrest and revealed that multiple former and current NNPC Limited officials are being investigated for various offenses including corruption, abuse of power, theft of public money, and accepting illegal payments from contractors.
“Our investigators have detained Umar Isa Ajiya, a former Chief Financial Officer of NNPC Limited, in connection with alleged $7.2 billion fraud involving the rehabilitation of three major refineries,” the official explained. “As CFO, Ajiya was responsible for approving the release of funds for the comprehensive maintenance of these facilities. We are investigating all key officials who were involved in these projects.”
The investigation has also targeted other senior officials including Tunde Bakare, who currently manages the Warri Refinery, as well as Ahmed Adamu Dikko and Ibrahim Monday Onoja, both of whom previously served as Managing Directors of the Port Harcourt Refinery.
In a separate but related case, another EFCC source confirmed that Jimoh Olasunkanmi, the former Managing Director of the Warri Refinery, has also been arrested and remains in custody.
“Yes, we can confirm that Ajiya has been arrested. We also have the former Managing Director of the Warri Refinery, Jimoh Olasunkanmi, in our custody,” the source stated.
Attempts to contact EFCC spokesperson Dele Oyewale for an official comment were unsuccessful at the time of this report.
