The Economic and Financial Crimes Commission (EFCC) has arrested a former Chief Financial Officer of the Nigerian National Petroleum Corporation (NNPC) Limited, Umar Ajiya Isa, in connection with an alleged $7.2 billion fraud linked to the rehabilitation of Nigeria’s refineries.
A senior EFCC official at the agency’s headquarters in Abuja confirmed that the arrest is part of an ongoing investigation into alleged financial misconduct surrounding the Turn Around Maintenance (TAM) projects at the Kaduna, Warri, and Port Harcourt refineries.
Also currently in EFCC custody is the former Managing Director of the Warri Refinery, Jimoh Olasunkanmi.
According to the source, Ajiya—who oversaw the disbursement of funds for the TAM projects—is being investigated alongside several former top officials of the NNPC for alleged abuse of office, corruption, diversion of public funds, and receipt of kickbacks from contractors.
Others under investigation include Tunde Bakare, former Managing Director of the Warri Refinery; Ahmed Adamu Dikko, former MD of the Port Harcourt Refinery; and Ibrahim Monday Onoja, also a former MD of the Port Harcourt Refinery.
The EFCC is continuing its probe into the alleged mismanagement of multi-billion-dollar investments meant for reviving Nigeria’s long-dormant refining capacity.
