EFCC Recovers ₦5bn and $10m From Refinery Maintenance Fraud, Targets More Funds

EFCC has recovered ₦5bn and $10m from refinery maintenance fraud.

NewsOnline Nigeria reports that the Economic and Financial Crimes Commission (EFCC) has recovered over ₦5 billion and $10 million from contractors and government officials indicted in fraudulent activities linked to the turnaround maintenance of Nigeria’s refineries in Port Harcourt, Kaduna, and Warri.

Findings revealed that the anti-graft agency is also working to trace and recover an additional ₦10 billion and $13 million allegedly siphoned through inflated contracts and questionable payments.

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EFCC Chairman, Ola Olukoyede, personally supervised the probe, expressing concern over the persistent failure of Nigeria’s refineries despite decades of massive public spending on maintenance.

Nigeria’s four state-owned refineries have remained largely non-functional, with billions of dollars allocated over the years for turnaround maintenance. Despite this, the facilities in Warri, Kaduna, and Port Harcourt remain dormant, leaving the country dependent on imported petroleum products.

Investigations are focusing on huge allocations, including:

• $1.55 billion for Port Harcourt refinery,

• $740 million for Kaduna refinery,

• $656 million for Warri refinery.

Top EFCC sources disclosed that fraudulent practices such as over-invoicing, contract inflation, and questionable payments were responsible for the refineries’ failure to deliver.

“Our investigation has uncovered large-scale fraud through inflated contracts and payments. So far, ₦5 billion and $10 million have been recovered from contractors and officials involved,” a source confirmed.

The EFCC is on track to recover another ₦10 billion and $13 million, while also probing fresh allegations of $40 million contract inflation involving some officials of the Nigerian National Petroleum Company Limited (NNPCL) and contractors hired for equipment procurement.

Former management teams of the refineries have been repeatedly grilled, while serving and retired NNPCL officials are under investigation.

Possible Prosecution Ahead

Though the EFCC’s Head of Media and Publicity, Dele Oyewale, could not be reached as of press time, a senior official confirmed the recoveries and hinted that charges may soon be filed against indicted officials.

The December 2024 raids and ongoing investigations mark one of Nigeria’s most extensive crackdowns on public sector corruption and refinery fraud in decades.