The Economic and Financial Crimes Commission (EFCC) has confiscated the passport of former Delta State Governor Ifeanyi Okowa following his recent arrest on allegations of diverting N1.3 trillion in oil derivation funds. Okowa, who was detained by the EFCC on November 4, 2024, is accused of siphoning the funds from the federation account between 2015 and 2023. He also faces allegations of acquiring shares in UTM Floating Liquefied Natural Gas and an eight percent equity stake in a major Nigerian bank using N40 billion.
Okowa was released from custody last week after meeting bail conditions, including the surrender of his travel documents, according to an EFCC source. “He was released last Wednesday after depositing his travel documents. This is standard procedure to prevent flight risk in cases of this magnitude,” the source noted.
Okowa addressed the allegations publicly for the first time on Tuesday while hosting leaders of the Urhobo Progress Union at his Asaba residence. He described the accusations as “laughable” and “totally false,” contending that they were politically motivated. “The idea that I could divert N1.3 trillion over my tenure is absurd,” he stated, noting that the finances of Delta State in his early years were insufficient even to cover public salaries.
The former governor added that, while he respected the EFCC’s mandate, he believed the investigation stemmed from “politics of our time” and baseless accusations aimed at tarnishing his reputation. He emphasised that despite budgetary constraints, his administration prioritised prompt salaries, pensions, and infrastructure projects, especially in Delta’s riverine areas.
Okowa expressed confidence that the inquiry would clear him of wrongdoing, criticising those he believes are using “false claims” for political ends. “I just pray for those who allow themselves to be used as tools for evil,” he said, adding that he remained dedicated to supporting Governor Sheriff Oborevwori and advancing Delta’s development.
Joining the discussion, Labour Party presidential candidate Peter Obi lamented Nigeria’s tendency to elevate unworthy figures while devaluing intellectual achievements. “We are rewarding the least among us and sidelining those who genuinely contribute to society,” he remarked.
The event drew a number of political figures and stakeholders, including Tunde Bakare, Citadel Global Community Church Overseer, and prominent media and political figures. The Urhobo Progress Union expressed gratitude to Okowa for his support of Oborevwori’s gubernatorial bid, reiterating their ongoing alliance with him.
