The {Economic} and {Financial} Crimes Fee (EFCC) has confirmed that the arrested former Chief {Financial} Officer (CFO) of the Nigerian Nationwide Petroleum Firm Restricted (NNPCL), Umar Isa, and different prime officers are nonetheless underneath investigation over an alleged $7.2 billion fraud linked to the rehabilitation of the Kaduna, Warri, and Port Harcourt refineries.
A supply conversant in developments inside the EFCC (who pleaded anonymity because the official was not approved to talk) disclosed to Nairametrics on Tuesday that the investigation of the suspects is ongoing.
Except for Isa, Jimoh Olasunkanmi, a former Managing Director of Warri Refinery, and others are stated to be within the custody of the EFCC, as confirmed by the supply.
The event comes days after the Senate Committee on Public Accounts, chaired by Aliyu Wadada, raised the alarm regarding alleged discrepancies involving trillions of naira within the audited {financial} statements of the NNPCL.
The Committee described the revelations as mind-boggling and worrisome, underscoring that the issues stem straight from the evaluation of NNPCL’s audited {financial} statements from 2017 to 2023.
The committee instantly handed over an inventory of 11 queries to the NNPCL finance group with a one-week timeline for response.
“The arrest of a number of the ex-NNPCL officers is true.
“We’re nonetheless investigating and there’s no level preempting what the EFCC will do after the investigation,” the supply added.
EFCC’s spokesperson, Dele Oyewale, has but to reply to Nairametrics’ enquiry as of press time.
The event comes months after President Bola Tinubu accredited the reconstitution of the Nigerian Nationwide Petroleum Firm Restricted (NNPCL) board, eradicating the chairman, Chief Pius Akinyelure, and the Group Chief Government Officer, Mele Kyari.
The restructuring affected all different board members appointed alongside Akinyelure and Kyari in November 2023.
In response to the assertion, “President Tinubu, invoking the powers granted underneath Part 59, subsection 2 of the Petroleum Business Act, 2021, emphasised that the board’s restructuring is essential for enhancing operational effectivity, restoring investor confidence, boosting native content material, driving {economic} progress, and advancing gasoline commercialization and diversification.”
President Tinubu additionally handed out an instantaneous motion plan to the brand new board: to conduct a strategic portfolio evaluation of NNPC-operated and Joint Enterprise Property to make sure alignment with worth maximization targets.
