Former Delta State Governor Ifeanyi Okowa has been released on bail by the Economic and Financial Crimes Commission (EFCC), but his international passport has been withheld. Okowa was arrested on November 4, 2024, over allegations of diverting N1.3 trillion in derivation funds from the federation account between 2015 and 2023. The funds, which accounted for 13% of the state’s allocation, were allegedly mismanaged, and Okowa failed to account for them.
Additionally, he is accused of using 40 billion Naira to purchase shares in UTM Floating Liquefied Natural Gas and another 40 billion Naira to acquire shares in a major Nigerian bank.Okowa has denied the allegations, in his words they were “laughable and totally false.” He claimed that the EFCC invitation was based on a petition written months ago, driven by politics ¹. Okowa emphasized that Delta State’s finances were transparent, and salaries were paid promptly during his tenure. He noted that the state’s salary and pension obligations exceeded 11 Billion Naira monthly, with over 56,000 workers. The EFCC’s investigation is ongoing, and Okowa’s passport remains withheld as part of his bail conditions
