The Economic and Financial Crimes Commission (EFCC) has uncovered N80 billion in the bank accounts of a sacked Managing Director of the Nigerian National Petroleum Company Limited (NNPCL) refineries. The EFCC is investigating the alleged mismanagement of funds meant for the rehabilitation of the Port Harcourt, Warri, and Kaduna refineries.
A senior EFCC official revealed that the commission has arrested some of the sacked MDs and top officials of the refineries. “We are investigating the money that was released for the rehabilitation of all three refineries—money disbursed in recent times,” the official said.
The EFCC is probing a total of $2.9 billion allegedly disbursed for the refineries’ rehabilitation. The investigation has implicated several top officials, including the immediate past Group Chief Executive Officer of NNPCL, Mele Kyari.
The discovery of the large sum of money in the sacked MD’s account has raised questions about the management of funds in the NNPC and the refineries. The EFCC’s investigation is ongoing, and more arrests are expected.