The probe is tied to the $2.896 billion spent on refinery rehabilitation, with $1.56 billion for Port Harcourt, $740.6 million for Kaduna, and $656.9 million for Warri refineries
EFCC Investigates Former NNPC Executives for Alleged Fraud
The Economic and Financial Crimes Commission (EFCC) has launched a probe into alleged financial misconduct and abuse of office by former senior officials of the Nigerian National Petroleum Company Limited (NNPC Ltd), including ex-Group Chief Executive Officer Mele Kyari and former Group Managing Director Abubakar Yar’Adua.
The investigation focuses on 14 current and former NNPC officials, with the EFCC requesting certified records of their salaries and allowances, as outlined in a letter dated April 28 to the NNPC Managing Director.
The EFCC’s inquiry, referenced as CR:3000/EFCC/ABJ/HQ/SDC.2/NNPC/VOL.1/698, seeks documentation on officials such as Ibrahim Onoja, former Managing Director of Port Harcourt Refining Company (PHRC), and Mustafa Sugungun, former Managing Director of Kaduna Refining and Petrochemical Company (KRPC).
The probe is tied to the $2.896 billion spent on refinery rehabilitation, with $1.56 billion for Port Harcourt, $740.6 million for Kaduna, and $656.9 million for Warri refineries.
Recent changes at NNPC include the dismissal of the managing directors of the Port Harcourt, Warri, and Kaduna refineries—Ibrahim Onoja, Efifia Chu, and Mustafa Sugungun, respectively—amid a broader company restructuring.
Last month, President Bola Tinubu replaced the NNPC board, appointing Bayo Ojulari as the new GCEO and Ahmadu Kida as non-executive chairman, alongside a new eight-member senior management team.
Nigeria’s Finance Minister, Wale Edun, recently confirmed a forensic audit of NNPC’s operations during a World Bank/IMF Investors’ Forum in Washington, D.C., emphasizing the need for increased dollar revenue from the state oil company amid global economic challenges. EFCC spokesperson Dele Oyewale acknowledged the ongoing investigation but provided no further details. Read More
