The Economic and Financial Crimes Commission (EFCC) has detained former Delta State Governor Ifeanyi Okowa for alleged diversion of N1.3 trillion Naira of the 13 per cent derivation fund from the Federation Account between 2015 and 2023.
Okowa was arrested on Monday in Port Harcourt, Rivers State, when he reported at the Port Harcourt Directorate of the EFCC on the invitation of investigators handling his matter.
The former governor was alleged to have failed to render accounts of the funds as well as another N40 billion he allegedly claimed he used to acquire 8% equity shares in UTM Floating Liquefied Natural Gas.
Investigators are also examining allegations that Okowa diverted state funds to acquire properties in Abuja and Asaba during his tenure.
He is currently being held at the EFCC facility in Port Harcourt.
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