A former governor of Delta governor, Ifeanyi Okowa, has been arrested by operatives of the Economic and Financial Crimes Commission (EFCC), on Monday.
It is believed that Okowa has been picked up the alleged diversion of N1.3trillion.
Okowa was arrested on Monday in Port Harcourt, the Rivers state capital, when he reported to the EFCC office following an invitation over the matter.
The amount is said to be part of the 13 percent derivation fund earmarked for oil-producing states.
According to insiders involved in the investigation, the funds were allegedly diverted between 2015 and 2023.
The former governor is also being probed over another N40 billion allegedly used to acquire shares in UTM Floating Liquefied Natural Gas — a facility being developed by UTM Offshore Limited in Akwa Ibom state.
The former governor was said to have failed to account for the utilisation of the funds.
The anti-graft agency is also investigating Okowa over the alleged diversion of funds “to acquire estates in Abuja and Asaba”.
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