The Economic and Financial Crimes Commission (EFCC) has recovered over ₦5bn and $10m from contractors and government officials indicted in large-scale fraud linked to the turnaround maintenance of Nigeria’s refineries in Port Harcourt, Kaduna, and Warri.
Reports revealed that the anti-graft agency is also working to recover an additional ₦10bn and $13m allegedly siphoned by contractors engaged in the rehabilitation projects.
EFCC Chairman, Ola Olukoyede, is said to have personally taken charge of the investigation, reportedly angered by the persistent non-performance of the nation’s refineries despite billions of dollars spent on their repairs.
Nigeria’s four state-owned refineries have remained largely dormant for decades, with successive administrations approving huge budgets for turnaround maintenance that yielded little or no result, forcing the country to depend heavily on fuel imports.
Investigators disclosed that between $1.55bn allocated to the Port Harcourt refinery, $740.6m for the Kaduna refinery, and $656.9m for the Warri refinery, fraudulent practices such as over-invoicing, contract inflation, and questionable payments drained public funds and crippled operations.
A top EFCC source said several former management teams of the refineries, alongside officials of the Nigerian National Petroleum Company Limited (NNPCL), had been repeatedly interrogated. Some cases have already been concluded, with charges expected to be filed soon.
“Our investigation into the turnaround maintenance of the refineries uncovered fraudulent dealings that explain why the facilities have failed Nigerians despite massive investments,” the source said. “A total of $10m and ₦5bn have so far been recovered from indicted contractors and officials.”
The source further confirmed that the commission was pursuing fresh recoveries, including another $13m and ₦10bn, while probing fresh allegations of contract inflation worth about $40m involving NNPCL officials and contractors.
Although EFCC spokesperson Dele Oyewale could not be reached for comment, a senior official who spoke on condition of anonymity confirmed the recoveries.
