Specifically, the EFCC is examining the disbursement of $1,559,239,084.36 allocated to the Port Harcourt refinery, $740,669,600 released for the Kaduna refinery and $656,963,938 approved for the Warri refinery.
A senior official from the agency, who requested anonymity due to a lack of authorisation to speak publicly, confirmed Isa’s arrest.
He stated that Isa is being investigated for alleged abuse of office, corruption, and other offences.
The source said, “Our operatives have arrested a former Chief Financial Officer of the NNPCL, Umar Ajiya Isa, in connection with an alleged $7.2 billion fraud related to the rehabilitation of the Kaduna, Warri, and Port Harcourt refineries.
“As CFO, Ajiya oversaw the release of funds for the turnaround maintenance of the three refineries. Key officials involved in the maintenance and other major NNPCL projects are also under investigation for alleged abuse of office, corruption, diversion of public funds, and receiving kickbacks from contractors.”
Other officials involved in the investigation include Tunde Bakare, the Managing Director of the Warri Refinery; Ahmed Adamu Dikko, the former Managing Director of the Port Harcourt Refinery; and Ibrahim Monday Onoja, also a former Managing Director of the Port Harcourt Refinery.
Another source confirmed that the EFCC has also detained Jimoh Olasunkanmi, the former Managing Director of the Warri Refinery. “Yes, it is true. We have arrested Isa and have custody of the former MD of the Warri Refinery, Jimoh Olasunkanmi.”
Attempts to contact the EFCC spokesperson, Dele Oyewale, for comments were unsuccessful as of the time of this report.
