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The Economic and Financial Crimes Commission (EFCC) has recovered over ₦5 billion and $10 million from contractors and government officials indicted in fraudulent activities surrounding the turnaround maintenance of Nigeria’s refineries in Port Harcourt, Kaduna, and Warri.
Findings by Punch revealed that the anti-graft agency is also working to recover another ₦10 billion and $13 million allegedly siphoned through contractors engaged in the projects.
It was learnt that EFCC Chairman, Ola Olukoyede, personally took charge of the investigation, expressing displeasure over the non-functional state of the refineries despite decades of massive public spending.
Nigeria’s four refineries have been largely dormant for decades despite successive administrations allocating billions of dollars for turnaround maintenance. Yet, the facilities in Warri, Kaduna, and Port Harcourt have remained dormant, forcing the country to heavily depend on imported petroleum products.
Investigations by the EFCC are focusing on funds allocated to the refineries, including $1.55bn to the Port Harcourt refinery, $740m to the Kaduna refinery, and $656m to the Warri refinery.
Top sources disclosed that fraudulent practices such as over-invoicing, contract inflation, and questionable payments were responsible for the refineries’ failure to function optimally.
One source said, “Our investigation into the turnaround maintenance of the nation’s refineries in Warri, Kaduna, and Port Harcourt has yielded major discoveries of large-scale fraud. Investigators discovered fraudulent dealings through over-invoicing, contract inflation and questionable payments.”
According to insiders, former management teams of the refineries were repeatedly grilled, while some serving and retired officials of the Nigerian National Petroleum Company Limited (NNPCL) are also being investigated.
The source added, “A total sum of $10m and ₦5bn have so far been recovered from suspects indicted in the fraud. The recoveries were made from contractors and government officials involved in over-invoicing and inflated payments.”
Another source confirmed that the commission is on track to recover additional sums, saying, “While we have recovered some money, another $13m and N10bn discovered to be siphoned through contractors engaged in the maintenance are due to be recovered.”
The EFCC is also investigating fresh allegations of contract inflation worth $40 million, allegedly involving NNPC officials and contractors engaged to procure equipment for rehabilitation works.
The EFCC’s Head of Media and Publicity, Dele Oyewale, could not be reached for comments as of press time. However, a senior official of the commission confirmed the recovery, noting that charges may soon be filed against some of the indicted officials.
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