BREAKING: Why EFCC arrests ex-Delta Gov Ifeanyi Okowa

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The former governor was arrested on Monday, according to an EFCC source.

On Monday, November 4, 2024, Okowa was arrested in Port Harcourt, Rivers State, after reporting to the EFCC’s Port Harcourt Directorate at the request of the investigators working on his case.

Along with another N40 billion he allegedly claimed to have used to purchase shares in UTM Floating Liquefied Natural Gas, the former governor was accused of failing to provide accounts of the money.

In particular, Okowa is accused of purchasing N40 billion worth of shares in one of the nation’s largest banks, which accounted for 8% of the stock in order to float the offshore LNG. It was claimed that the money was used to other purposes.

Investigators are also looking into how the former governor misappropriated money to buy properties in Delta State, Abuja and Asaba.

The EFCC detention facility in Port Harcourt is where he is being detained.

During the 2023 election, Okowa served as the running mate of Atiku Abubakar, the PDP’s presidential candidate.

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