The Economic and Financial Crimes Commission (EFCC) has recovered over ₦5 billion and $10 million linked to massive fraud in the turnaround maintenance of Nigeria’s refineries in Port Harcourt, Kaduna, and Warri.
Investigations revealed that contractors and senior officials of the Nigerian National Petroleum Company Limited (NNPCL) siphoned billions through inflated contracts, over-invoicing, and questionable payments. The anti-graft agency is now preparing charges against some former and serving NNPCL executives.
According to EFCC insiders, the commission is also pursuing the recovery of an additional ₦10 billion and $13 million traced to fraudulent contractors engaged in refinery projects.
It is understood that the chairman of the EFCC, Ola Olukoyede, is personally overseeing the probe. He is said to have expressed frustration that Nigeria’s refineries remain comatose despite huge public funds committed to their rehabilitation.
Documents reviewed by investigators show that over $1.5 billion was allocated to the Port Harcourt refinery, $740 million to Kaduna, and $656 million to Warri. Yet, none of the facilities has operated optimally for decades, leaving the country dependent on imported petroleum products.
A senior EFCC official confirmed that former management teams of the refineries have been interrogated several times. “A total sum of $10 million and ₦5 billion has so far been recovered from contractors and government officials indicted in the fraud. More recoveries are underway,” the source disclosed.
The commission is also examining fresh allegations of contract inflation amounting to $40 million, allegedly involving NNPCL officials and contractors tasked with procuring equipment for rehabilitation projects.
With investigations concluded on several suspects, the EFCC is set to file charges against ex-officials of the NNPCL and refinery managers implicated in the multi-billion-naira fraud.
