Former Delta State Governor Ifeanyi Okowa arrested on allegations of a ₦1.3 trillion fraud.

Ifeanyi Okowa, former Delta State governor from 2015 to 2023, faces accusations of mismanaging ₦1.3 trillion from the 13 percent derivation fund, a resource allocated to oil-producing states. Okowa was reportedly detained after voluntarily appearing at the EFCC's Port Harcourt office in response to an inquiry into the alleged misuse.

“The funds were designated for development in oil-rich states but seem to have been diverted over the years,” a source informed TheCable.

Additional allegations claim that Okowa misappropriated ₦40 billion to buy shares in UTM Floating Liquefied Natural Gas, an ongoing project by UTM Offshore Limited in Akwa Ibom. Further, EFCC sources suggest that public funds were used to acquire estates in Abuja and Asaba, Delta State’s capital, with significant assets reportedly linked to these funds.

Now held at the EFCC facility in Port Harcourt, Okowa’s case highlights rising concerns over financial transparency among former governors. His successor, Sheriff Oborevwori, assumed office earlier this year.

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