An estimated N80 billion has reportedly been traced to the personal accounts of a former Managing Director of the Port Harcourt Refinery, Ibrahim Onoja, following the alleged misappropriation of $2.96 billion earmarked for refinery rehabilitation projects.
According to a report by investigative journalist Jackson Ude, the former refinery boss is accused of masterminding the diversion of the funds under the pretext of “contract reimbursable” expenditures. The revelation has prompted a major probe by the Economic and Financial Crimes Commission (EFCC), which is now actively investigating the financial trail.
Sources familiar with the matter told OndoPress News that Onoja allegedly played a key role in sabotaging the rehabilitation process and mounting opposition to Bayo Akinlere, who was appointed as the Coordinator for the refinery repair program.
EFCC officials have yet to issue a formal statement, but insiders suggest that the investigation is expanding, with more revelations expected in the coming days.
The alleged financial misconduct casts a shadow over Nigeria’s ongoing efforts to revitalize its oil refining capacity and raises fresh concerns about accountability in the sector. CONTINUE READING
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