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EFCC Arrests Former NNPCL CFO, Others Over Explosive $7.2 Billion Refinery Rehabilitation Fraud

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EFCC Arrests Former NNPCL CFO, Others Over Explosive $7.2 Billion Refinery Rehabilitation Fraud

Published Tuesday, June 24, 2025

In a development that could rock the heart of Nigeria’s oil sector, the Economic and Financial Crimes Commission (EFCC) has arrested Umar Isa Ajiya, the former Chief Financial Officer of the Nigerian National Petroleum Corporation Limited (NNPCL), over his alleged role in a staggering $7.2 billion fraud tied to the supposed rehabilitation of Nigeria’s long-dormant refineries.

According to EFCC insiders, Ajiya’s arrest is part of a widening probe into what is now being described as one of the biggest public finance scandals in Nigeria’s recent history.


🏭 Refinery Repairs or Mega Scam?

At the center of the investigation is the alleged mismanagement and diversion of billions of dollars earmarked for the turnaround maintenance of Kaduna, Warri, and Port Harcourt refineries—projects which have gulped huge funds but produced no operational outcome.

A senior EFCC source confirmed:

“Our operatives have arrested Umar Isa Ajiya in connection with an alleged $7.2 billion fraud related to the rehabilitation of the three refineries.”


💸 Money Trail Under Scrutiny

According to EFCC data, the total amount under forensic investigation is nearly $3 billion, with the breakdown as follows:

  • $1.56 billion – Port Harcourt Refinery

  • $740.7 million – Kaduna Refinery

  • $656.9 million – Warri Refinery

Despite these astronomical figures, the facilities remain non-functional, raising urgent questions about where the funds truly went.

“As CFO, Ajiya was in charge of releasing funds for these projects. We are probing his role in abuse of office, diversion of public funds, and alleged kickbacks from contractors,” the official stated.


🔍 A Web of High-Profile Suspects

But Ajiya is not alone in the EFCC’s net. The investigation has now expanded to include several other top figures in Nigeria’s petroleum sector:

  • Tunde Bakare – Managing Director of Warri Refinery

  • Ahmed Adamu Dikko – Former MD, Port Harcourt Refinery

  • Ibrahim Monday Onoja – Former MD, Port Harcourt Refinery

  • Jimoh Olasunkanmi – Former MD, Warri Refinery (currently in custody)

All are being probed for complicity in the disbursement and possible diversion of funds meant for the long-promised refinery overhaul.


🚨 What’s Next?

The EFCC says the investigation is still in its early stages and that more arrests could follow. With billions of dollars unaccounted for and public outrage mounting, this case could become a defining anti-corruption battle ahead of the 2027 general elections.


📌 Conclusion: Another NNPC Scandal or a Turning Point?

The rehabilitation of Nigeria’s refineries has been a decades-long mirage, despite repeated budget allocations. This latest development has rekindled public anger over how deeply entrenched corruption remains within the oil industry.

As Nigerians wait for justice, the big question is: Will this be another scandal swept under the rug, or the beginning of real accountability?

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Fresh Wave Of Insecurity: Pregnant Woman And Several Residents Abducted In Niger And FCT

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Dalung Breaks Silence: TikTok Chat With Bandit Exposes Deep Secrets Behind The Violence

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Dalung Breaks Silence: TikTok Chat With Bandit Exposes Deep Secrets Behind The Violence

Former Minister of Sports, Solomon Dalung, has opened up about a surprising and thought-provoking conversation he once had with a young man who claimed to be living in the bush as a bandit. Dalung shared the experience during an interview with News Central, explaining how the encounter gave him a deeper understanding of the issues fueling insecurity……CONTINUE READING

According to Dalung, he was browsing TikTok when he came across the young man, who openly described himself as someone living in the forest due to ongoing conflict. Curious, Dalung asked why they engaged in violent activities. The young man responded that they had suffered losses themselves and felt targeted by vigilante groups who, according to him, harmed their people and took their cattle. This, he said, pushed them into retaliation and led them deeper into the bush.

Dalung explained that he challenged the young man, pointing out that innocent people—including other Fulani individuals—were being harmed in the process. The young man replied that, from their viewpoint, only those living in the bush were considered part of their community, while anyone living in town was seen differently. It was a response that, according to Dalung, revealed how distorted perceptions can worsen the cycle of conflict.

Wanting to know if there was any path toward peace, Dalung asked what could help end the violence. The young man shared that they were open to negotiation and discussions that could encourage them to give up their weapons and reintegrate into society. Dalung noted that the confidence with which the young man spoke was unsettling, but it also showed that dialogue could be part of the solution.

Reflecting on the experience, Dalung urged the National Assembly to consider constitutional changes that would allow Nigerians the legal right to defend themselves responsibly, especially in areas affected by insecurity.

His conversation serves as a reminder of how complex the nation’s security challenges are—and how personal engagement, understanding, and strategic dialogue may help chart a way forward.

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BREAKING: EFCC Drags Ex-Justice Minister Malami—What He Said Will Shock You

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BREAKING: EFCC Drags Ex-Justice Minister Malami—What He Said Will Shock You

Nigeria’s former Attorney-General of the Federation and Minister of Justice, Abubakar Malami (SAN), has confirmed that the Economic and Financial Crimes Commission (EFCC) has officially summoned him—sending shockwaves across the nation’s political landscape…….CONTINUE READING

Malami, who served from 2015 to 2023 under ex-President Muhammadu Buhari, broke the news himself in a bold announcement on his social media page, declaring that he is ready to face investigators head-on.

The once-powerful justice minister, known for steering some of the country’s most controversial legal battles—from massive asset recovery operations to heated anti-corruption reforms—now finds himself at the centre of a fresh probe.
Throughout his tenure, Malami was linked to numerous high-stakes decisions, arbitration wars, and sensitive financial crime cases that kept him in the public eye.

In recent years, however, scrutiny tightened around issues such as asset declarations and management of recovered funds—allegations he has firmly and repeatedly rejected.

For now, the EFCC remains tight-lipped, refusing to disclose what exactly Malami is being called in for, leaving the public buzzing with speculation.

In a confident statement on Facebook, Malami wrote:

“This is to confirm that I have been invited by the EFCC.
As a law-abiding and patriotic citizen, I reaffirm my commitment to honour the invitation.
I understand the spirit of accountability and transparency in public service—principles I have always advocated.
I am committed to sharing developments with the Nigerian public as they unfold.”

With Malami’s pledge to keep Nigerians updated, all eyes are now fixed on the unfolding drama—a saga that promises to shake up the nation’s justice and political corridors once again.

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