Former Delta State governor Ifeanyi Okowa remains detained at the Economic and Financial Crimes Commission (EFCC) office in Port Harcourt, Rivers State, for a second night as investigations continue. Okowa, who served as Delta State governor for eight years and was the running mate to Atiku Abubakar in the 2023 presidential election, is facing allegations of financial misconduct, including the diversion of N1.3 trillion in state funds and unaccounted funds linked to shares in UTM Floating Liquefied Natural Gas (LNG) and other investments.
EFCC sources indicate that Okowa allegedly used N40 billion to acquire shares in UTM LNG and in one of Nigeria’s major banks, constituting approximately eight percent equity to support an offshore LNG project. Additional allegations involve the acquisition of estates in Abuja and Asaba, Delta State, using diverted state funds. Investigators have confronted Okowa with these allegations as they continue to review the extent of the financial dealings.
The Delta State chapter of the All Progressives Congress (APC) has expressed support for the EFCC’s actions. In a statement by its Publicity Secretary, Valentine Onojeghuo, the APC called the detention a significant move in Nigeria’s anti-corruption efforts. Onojeghuo’s statement accused Okowa’s administration of extensive financial mismanagement and reckless borrowing, contributing to Delta State’s high debt profile. He also claimed that Okowa’s administration funneled state funds into personal ventures, established a bank, and pursued a failed presidential ambition, leaving Delta State with limited visible development and substandard infrastructure projects.
The APC urged the EFCC to extend its investigations to other former governors and public officials, stressing that Okowa’s arrest serves as a warning that impunity is no longer tolerated in Nigeria. The party’s statement described Okowa’s tenure as marked by a “Borrow Borrow Governor” legacy, citing poor-quality infrastructure as evidence of his administration’s alleged financial mismanagement.
