EFCC returns N3.9bn stolen funds to NNPC

The Economic and Financial Crimes Commission (EFCC) on Wednesday returned more than N3.9 billion in recovered funds to the Nigerian National Petroleum Company Limited (NNPC Ltd), following investigations into alleged fraudulent activities.

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According to a statement shared with PREMIUM TIMES by EFCC’s spokesperson Dele Oyewale on Wednesday, the handover ceremony took place at the anti-graft agency’s headquarters in Abuja.

It said that the EFCC Secretary, Mohammed Hammajoda, represented its Chairman, Ola Olukoyede.

Mr Hammajoda explained that the recovered funds were the result of meticulous investigations into financial irregularities involving some officials within NNPC Ltd.

“On behalf of the Executive Chairman, we will continue to put ourselves on the line to serve over 220 million Nigerians. Along the line, many of our colleagues have paid the price and others will still pay the price as we continue to do our work with courage and integrity.

“We will serve and continue to serve this country. So, on behalf of the EFCC, I present the sum of Three Billion, Nine Hundred and Thirty Six million, One Hundred and Forty Five Thousand, Eight Hundred and Twenty Two Naira to you,” he said.

Receiving the funds on behalf of NNPC Ltd, Executive Vice President, Downstream, Mumuni Dagazau, praised the EFCC for its role in the recovery.

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“NNPC has faced longstanding challenges, and we have continuously worked to reform the system. This recovery demonstrates strong institutional cooperation, and we are proud to have EFCC support in ensuring transparency and accountability,” Mr Dagazau said.

The statement did not provide specific details of the fraudulent channels through which the recovered funds were stolen from the NNPC or the identities of the alleged perpetrators.

However, it is common knowledge that the EFCC has investigated top NNPC officials, including former Managing Director Mele Kyari, over corruption allegations in the last one year.

In September last year, the EFCC arrested and detained Mr Kyari over various allegations.

About a month earlier, the Federal High Court in Abuja ordered the temporary freezing of four Jaiz Bank accounts linked to him over allegations of conspiracy, abuse of office and money laundering.

But Mr Kyari has denied any wrongdoing.

In May that year, he dismissed reports of his arrest over the alleged diversion of $2.9 billion for refinery rehabilitation as “clear mischief” aimed at damaging his reputation.

EFCC has also investigated other former officials of the NNPC.

In June last year, EFCC arrested a former Chief Financial Officer of the NNPC, Umar Ajiya Isa.
Mr Isa was arrested in connection with alleged $7.2billion fraud associated with the rehabilitation of the Kaduna, Warri and Port Harcourt refineries.

The three refineries have underperformed and recorded zero production over the years despite annual allocation of turnaround maintenance to them.

Sources briefed on the matter told PREMIUM TIMES then that Mr Isa was detained by the agency along with a former Managing Director of Warri Refinery, Jimoh Olasunkanmi.

Mr Isa, as CFO, was in charge of release of funds for the Turn Around Maintenance of the three refineries.

Other officials also facing probe at the time were Tunde Bakare, Managing Director, Warri Refinery; Ahmed Adamu Dikko, former Managing Director, Port Harcourt Refinery, and Ibrahim Monday Onoja, former Managing Director, Port Harcourt Refinery.

None of these persons is known to have been charged with any offence or found guilty of any crime. There is also no publicly available evidence linking the funds recovered by the EFCC to them.

However, over the years, NNPC has kept its financial dealings opaque, shielding its officials from public scrutiny.

Not the first time

This is not the first time the EFCC has returned recovered funds to government institutions.

PREMIUM TIMES had reported that the commission handed over N387,483,488 to the Jigawa State Government.

The funds were recovered following an investigation triggered by intelligence from the Nigerian Financial Intelligence Unit (NFIU), which flagged alleged misappropriation of public funds involving two suspects, Abdullahi Garba and Ayuba Sani.

EFCC operatives subsequently launched a probe, leading to the recovery.

Both suspects were arraigned in court. Garba pleaded guilty and was sentenced to two years’ imprisonment, while Sani is currently standing trial.

The funds were handed over at the EFCC’s Kano Zonal Directorate office to the state’s Director of Treasury Operations, Muhammad Haruna.

Acting Zonal Director, Friday Ebelo, said the handover demonstrated the commission’s commitment to recovering proceeds of crime and delivering justice.

“The EFCC remains resolute in its mandate to investigate and recover proceeds of crime. We are committed to ensuring that funds meant for the development of the people are not diverted for personal use,” Mr Ebelo said.

Mr Haruna commended the EFCC for its efforts, describing the recovery as beneficial to the people of Jigawa.

Also, in January, the EFCC returned N1.28 billion to the Enugu State Government after recovering funds from a contractor accused of diverting money meant for public projects.

The funds were recovered from Olasijibomi Ogundele, the chief executive of Sujimoto Luxury Construction Limited, following a petition by the state government over an alleged N5.7 billion fraud linked to the construction of smart schools.

The EFCC said these recoveries align with its mandate to trace, recover, and restitute proceeds of crime, noting that investigations and prosecutions in such cases remain ongoing.