The Economic and Financial Crimes Commission (EFCC) has recovered more than N38.66 billion in cash and assets in an ongoing investigation into the alleged diversion of funds allocated for the rehabilitation of Nigeria’s state-owned refineries.

The anti-graft agency is also preparing possible criminal charges against several former and serving officials of the Nigerian National Petroleum Company Limited (NNPCL), as well as contractors linked to the refinery rehabilitation projects.

Findings by investigators indicate that the EFCC has so far recovered N9.4 billion, $21.2 million and several landed properties allegedly traced to individuals under investigation. The recovered dollar component is valued at about N29.26 billion using the Central Bank of Nigeria’s official exchange rate.

The probe, described by investigators as one of the largest corruption investigations in Nigeria’s oil sector, centres on the management of approximately $2.79 billion released between 2021 and 2023 for the rehabilitation and turnaround maintenance of the Port Harcourt, Warri and Kaduna refineries.

According to the EFCC, the investigation involves allegations of criminal conspiracy, diversion of public funds, abuse of office, money laundering, procurement fraud and economic sabotage. Those under scrutiny include officials of the NNPCL, its subsidiary, the NNPC Engineering and Technical Company Limited (NETCO), former and serving managing directors of the refineries, and major contractors involved in the projects.

Records show that the Federal Government approved about $1.56 billion for the rehabilitation of the Port Harcourt Refining Company, $740.7 million for the Kaduna Refining and Petrochemical Company, and $492.3 million for the Warri Refining and Petrochemical Company.

Despite the huge financial outlay, investigators reportedly found little evidence of corresponding improvements in refinery operations, raising concerns that substantial portions of the funds may have been diverted or improperly disbursed.

The EFCC had earlier arrested several senior NNPCL officials in connection with the investigation, including former Chief Financial Officer Umar Isa, Warri Refinery Managing Director Tunde Bakare, and former Port Harcourt Refinery Managing Directors Ahmed Dikko and Ibrahim Onoja.

Investigators have also interrogated more than 30 senior NNPCL officials and over 50 representatives of contracting firms and subcontractors involved in the refinery rehabilitation programme.

As part of the investigation, the commission reviewed procurement records, payment approvals, project execution reports and banking transactions, while also obtaining information from the Corporate Affairs Commission, the Central Bank of Nigeria and commercial banks.

Sources familiar with the probe disclosed that investigators uncovered widespread violations of procurement procedures and questionable payment approvals allegedly facilitated by officials at different levels of management.

One of the officials under investigation, former Port Harcourt Refinery Managing Director Ahmed Dikko, is accused of authorising direct payments to contractors from provisional sum funds contrary to contractual provisions. Investigators said assets valued at N983.9 million, $227,030 and three landed properties were traced to him, with an interim forfeiture order already secured.

Similarly, a senior official linked to the Warri Refinery rehabilitation project, Jimoh Yisawu, is alleged to have approved payments to unqualified contractors and authorised inflated invoices and contract mark-ups exceeding $10 million and nearly N8 billion.

The EFCC said it traced more than N1.4 billion and four landed properties to Yisawu, assets investigators claim he could not satisfactorily explain. The properties have also been placed under interim forfeiture pending prosecution.

Sources disclosed that the recovered N9.4 billion and $21.2 million have been lodged in the EFCC’s recovery accounts, while an additional $2.32 million was recovered through the Federal Inland Revenue Service (FIRS).

Investigators also revealed a separate alleged revenue fraud case involving $28.39 million and N665 million linked to the management of the Port Harcourt Refining Company, with efforts ongoing to recover the funds.

The investigation remains ongoing, with the EFCC indicating that additional recoveries, arrests and prosecutions are expected as more evidence emerges.

The latest revelations have renewed concerns over the effectiveness of Nigeria’s refinery rehabilitation programme despite the expenditure of billions of dollars over the years.

Nigeria’s four state-owned refineries, with a combined installed capacity of 445,000 barrels per day, have remained largely underperforming for decades despite repeated turnaround maintenance and rehabilitation efforts.

While the Warri Refinery briefly resumed operations in December 2024 before shutting down a month later over safety concerns, the Port Harcourt Refinery was taken offline in May 2025 for scheduled maintenance.

In October 2025, the NNPCL announced a technical and commercial review of the refineries aimed at improving operational efficiency and profitability. The company also recently signed a Memorandum of Understanding with two Chinese firms to support the completion, operation and possible expansion of the Port Harcourt and Warri refineries.

Efforts to obtain reactions from the NNPCL and officials named in the investigation were unsuccessful as of the time of filing this report.

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The Economic and Financial Crimes Commission (EFCC) has transferred former Minister of Power, Saleh Mamman, to the Kuje Correctional Centre in Abuja following a court order for him to begin serving a 75-year prison sentence over money laundering charges.

Justice James Omotosho of the Federal High Court, Maitama, Abuja, issued the directive on Tuesday after Mamman was brought before the court by the EFCC.

In a statement posted on its X handle, the EFCC confirmed the development and also disclosed that the court heard a consequential application seeking the forfeiture of five additional properties linked to the former minister.

Conviction and Sentence

Mamman was convicted on May 7 on all 16 counts of an amended charge bordering on money laundering involving more than ₦33.8 billion.

He was subsequently sentenced in absentia on May 13 to a total of 75 years imprisonment.

The case involved allegations of illicit acquisition of properties and diversion of funds linked to major power projects, including the Zungeru and Mambilla hydroelectric schemes.

Arrest and Court Proceedings

The EFCC had declared that Mamman fled Abuja for Kaduna after his conviction before he was eventually arrested on May 19 in the Rigasa area of Kaduna alongside a relative.

During proceedings, a witness identified as Shamsudeen Mohammed, described as the former minister’s relative, told the court that Mamman travelled from Abuja to Kaduna by taxi after the judgment.

Justice Omotosho ruled that the sentence took effect immediately after judgment, stressing that the former minister’s prison term had commenced.

Forfeiture of Properties Sought

The EFCC is also pursuing forfeiture of five properties allegedly linked to Mamman in Abuja and Kaduna.

They include luxury apartments, mansions in Wuse 2, Abuja, and a commercial property in the same district.

The anti-graft agency said the move forms part of efforts to recover assets linked to proceeds of crime.

Case Adjourned

The court adjourned hearing on the forfeiture application until June 8, 2026, to allow Mamman respond to the case.

Justice Omotosho also directed that the former minister be properly served and allowed to engage legal representation of his choice.

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