By Justin Amare
Former Delta State Governor Ifeanyi Okowa remains in custody at the Port Harcourt office of the Economic and Financial Crimes Commission (EFCC) for a second consecutive night, facing investigations into alleged financial misconduct. Okowa, who was the running mate of Peoples Democratic Party’s 2023 presidential candidate, Atiku Abubakar, voluntarily reported to the EFCC office on Monday, responding to a summons linked to accusations of misappropriating N1.3 trillion in state funds. Upon his arrival, he was subsequently detained.
According to EFCC sources, Okowa is also under scrutiny for an additional N40 billion, reportedly invested in shares for UTM Floating Liquefied Natural Gas and another major bank, totaling 8% equity. Investigators allege these funds may have been diverted for other purposes. Reports also claim that he allegedly used state resources to acquire estates in Abuja and Asaba.
One source close to the EFCC investigation disclosed, “We are still keeping him because of the magnitude of the allegations and the sums involved. Earlier today, he was confronted with further allegations against him, and we are awaiting his responses.”
In response, the Delta State chapter of the All Progressives Congress (APC) has expressed its support for Okowa’s continued detention, framing it as a crucial step toward accountability in Nigeria. Delta APC State Publicity Secretary Valentine Onojeghuo issued a statement urging the EFCC to expand its probe to include other former governors and public officials. “We in the APC wholeheartedly welcome the arrest of the former governor, who oversaw one of the most concerning cases of financial mismanagement during his eight-year tenure. His administration allegedly funnelled significant state resources into personal ventures, including establishing a bank, financing a failed presidential ambition, and supporting the controversial imposition of a successor,” the statement read.
Onojeghuo added, “The arrest serves as a caution to all public officeholders, affirming that the era of impunity is over and that no one, irrespective of position or political affiliation, is above the law.”
The APC further criticized Okowa’s administration, noting that Delta State is saddled with a high debt profile and a shortage of visible development. “The legacy of Dr. Ifeanyi Okowa’s administration is a high debt profile resulting from a reckless borrowing spree, which earned him the notorious nickname of ‘Borrow Borrow Governor.’ During his eight years in office, Delta State has little to show for the vast federal allocations received,” Onojeghuo concluded.