Nigeria’s anti-graft agency has recovered more than ₦5 billion and $10 million from contractors and former government officials linked to fraudulent refinery maintenance projects, with prosecutions set to follow.
Top investigators at the Economic and Financial Crimes Commission (EFCC) stated that the recoveries stemmed from inflated contracts and questionable payments associated with the rehabilitation of the Port Harcourt, Kaduna, and Warri refineries.
The EFCC is also chasing another ₦10 billion and $13 million, suspected to have been siphoned through contractors handling turnaround maintenance.
Olukoyede Takes Charge
EFCC Chairman Ola Olukoyede has personally taken control of the investigation, frustrated by the refineries’ decades-long inactivity despite massive budget allocations.
Nigeria’s four state-owned refineries—two in Port Harcourt, one in Kaduna, and one in Warri—have remained idle for years. This failure has forced Africa’s biggest oil producer to rely heavily on imports, even after successive governments spent billions of dollars on turnaround maintenance.
Fraudulent Dealings Uncovered
Investigators revealed that of the $1.55 billion allocated to Port Harcourt, $740 million to Kaduna, and $656 million to Warri, much of the money disappeared through contract inflation, over-invoicing, and irregular payments.
Officials of the Nigerian National Petroleum Company Limited (NNPCL) and several former refinery managers have faced multiple rounds of questioning.
A senior EFCC source said:
“We uncovered systemic fraud in the turnaround maintenance contracts—ranging from inflated contracts to fake invoicing and irregular payments. So far, we have recovered ₦5 billion and $10 million, and more funds are being traced.”
Prosecutions Imminent
The EFCC has concluded investigations into some suspects, including serving and former NNPCL executives, and plans to file charges soon. Past and current managers of the refineries could face arraignment in the coming weeks.
Meanwhile, investigators are probing new allegations of $40 million in inflated contracts related to the procurement of refinery equipment.
Silence from EFCC Spokesperson
The EFCC’s spokesperson, Dele Oyewale, did not respond to calls or messages. However, another senior official, speaking off the record, confirmed the recoveries and the likelihood of prosecutions.