The EFCC says it has recovered N5bn and $10m from contractors and officials linked to fraudulent refinery rehabilitation contracts, with more recoveries expected.
The Economic and Financial Crimes Commission (EFCC) has recovered over N5 billion and $10 million from contractors and officials implicated in fraudulent refinery turnaround maintenance schemes in Port Harcourt, Kaduna, and Warri.
According to EFCC insiders, the commission is also pursuing an additional N10 billion and $13 million siphoned through inflated contracts and questionable transactions. Chairman Ola Olukoyede is personally overseeing the probe, describing the continued non-performance of the refineries despite decades of heavy investment as unacceptable.
A senior EFCC source confirmed that “recoveries of $10 million and N5 billion have so far been made from contractors and officials linked to over-invoicing and inflated contracts.” Investigators have traced suspicious payments totaling $1.55 billion for Port Harcourt, $740.6 million for Kaduna, and $656.9 million for Warri.
The EFCC has reportedly concluded investigations into some NNPCL officials and contractors and is preparing charges, with more arrests and recoveries expected in the coming weeks.