The Economic and Financial Crimes Commission (EFCC) has arrested the recently sacked managing directors and top officials of the Port Harcourt, Warri, and Kaduna refineries over a massive $2.9 billion fraud scandal.
The anti-graft agency is investigating the alleged mismanagement of multi-billion dollar funds allocated for the long-promised rehabilitation of Nigeria’s three major refineries. Shockingly, a staggering N80 billion was discovered in the personal account of one of the sacked MDs, according to top NNPC sources.
The breakdown of the funds under probe includes:
$1.5 billion for the Port Harcourt Refinery
$740 million for the Kaduna Refinery
$656 million for the Warri Refinery
Arrested in connection with the scandal are Mr. Ibrahim Onoja, former MD of Port Harcourt Refining Company Ltd, and Efifia Chu, former MD of Warri Refining and Petrochemical Company Ltd. More arrests are expected as the EFCC intensifies its investigation into the whereabouts of the funds.
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According to EFCC insiders, the arrests are part of a broader probe into why, despite the huge disbursements, none of the refineries have returned to full operational status.
“We are digging into the money meant to revive the refineries. Nigerians want answers. Where is the money, and why are the refineries still comatose?” an EFCC official told our correspondent under condition of anonymity.
A leaked document dated April 28, 2025, and signed by the EFCC reveals that the probe also targets the former Group Chief Executive Officer of NNPC Ltd, Mele Kyari, alongside 13 other high-ranking officials.
The document, titled “Investigation Activities: Request for Information”, requests certified copies of the emoluments and allowances of the listed officials — even those who have retired or left the company.
This development marks one of the largest anti-corruption crackdowns in Nigeria’s oil sector history and could signal the beginning of a long-overdue reckoning for decades of refinery rot.