The Economic and Financial Crimes Commission (EFCC) has arrested Umar Ajiya Isa, a former Chief Financial Officer of the Nigerian National Petroleum Corporation Limited (NNPCL), in connection with an ongoing investigation into a multi-billion-dollar fraud tied to refinery rehabilitation projects across the country.
The probe, which focuses on alleged mismanagement of $7.2 billion, centres on the controversial Turn Around Maintenance (TAM) projects at the Kaduna, Warri, and Port Harcourt refineries.
Top sources within the anti-graft agency confirmed to Hobnob News on Monday that Isa was taken into custody for questioning over alleged abuse of office, corruption, and diversion of public funds. As CFO at the time, Isa was said to have played a central role in approving and disbursing the funds for the now-questioned refinery projects.
“Our operatives have arrested a former Chief Financial Officer of the NNPCL, Umar Ajiya Isa, over allegations surrounding the disbursement of funds for the TAM of the three refineries,” a senior EFCC official disclosed under condition of anonymity. “He is currently being interrogated over possible financial misconduct and links to contractor kickbacks.”
Breakdown of Funds Under Investigation:
Port Harcourt Refinery – $1,559,239,084.36
Kaduna Refinery – $740,669,600
Warri Refinery – $656,963,938
Total – $2,956,872,622.36
The arrest comes amid growing public outcry over the state of Nigeria’s oil refineries, which remain non-functional despite billions of dollars reportedly spent on their rehabilitation over several years.
In a related development, Hobnob News gathered that the EFCC also detained Jimoh Olasunkanmi, former Managing Director of the Warri Refining and Petrochemical Company, in connection with the same probe.
“Yes, it’s true. We have Isa and the former Warri Refinery MD in custody. Investigations are ongoing,” a second EFCC source confirmed.
Efforts to get an official comment from EFCC spokesperson Dele Oyewale were unsuccessful as of press time.
The arrests mark a significant step in the EFCC’s wider probe into financial irregularities in Nigeria’s petroleum sector, particularly the recurring expenditures on refineries that have yet to yield tangible results.
