The Economic and Financial Crimes Commission, EFCC has arrested Ifeanyi Okowa, the former governor of Delta State.
The former governor was arrested on Monday for allegedly misusing funds derived from resource allocation.
DAILY GIST reports that Okowa was the running mate to Atiku Abubakar, the PDP presidential candidate in 2023 election.
He was detained by the anti-graft agency over alleged diversion of N1.3 trillion 13% derivation fund from the federation account between 2015 and 2023.
The former governor was alleged to have failed to render accounts of the funds as well as another N40 billion he allegedly claimed he used to acquire shares in UTM Floating Liquefied Natural Gas.
Specifically, Okowa allegedly bought shares worth N40 billion in one of the major banks in the country representing 8% equity to float the offshore LNG. The funds were alleged to be used for other purposes.
More details to follow….
