EFCC Seizes Okowa’s Passport, Grants Bail Amidst N1.3 Trillion Allegations

The Economic and Financial Crimes Commission (EFCC) has seized the international passport of former Delta State Governor, Ifeanyi Okowa, amidst an investigation into alleged misappropriation of a N1.3 trillion derivation fund. Okowa, who was initially detained by the EFCC on November 4, 2024, is accused of siphoning funds allocated from the federation account between 2015 and 2023, as well as failing to account for additional investments in an offshore liquefied natural gas venture.

According to EFCC sources, the former governor was questioned at the agency’s Port Harcourt office regarding his management of the derivation fund, a financial reserve intended to benefit oil-producing states. Okowa reportedly used a portion of these funds—estimated at N40 billion—to acquire an 8% equity in a leading Nigerian bank, which he allegedly leveraged to finance the floating LNG venture.

The EFCC granted Okowa bail last week after he met conditions, including the surrender of his travel documents to the commission to prevent flight risk during ongoing investigations. An unnamed EFCC official justified the stringent measures, noting that the scale of funds involved “is too huge to take risks with,” and underscored that passport seizure is routine in such cases.

Efforts to reach EFCC spokesperson Dele Oyewale for comment went unanswered, and no official statement was provided at the time of publishing.

In a public response to the allegations, Okowa dismissed the charges as “laughable” and politically motivated. Speaking from his Asaba residence to Urhobo Progress Union (UPU) leaders who visited in solidarity, the former governor expressed confidence in his acquittal and criticized what he described as a smear campaign driven by political opponents.

Okowa argued that it would be logistically implausible to embezzle the amount alleged, citing financial constraints during his administration’s early years due to reduced federal allocations, which led to salary and pension challenges within the state.

“I was told I misappropriated N1.3 trillion. To achieve that, you’d need to take N16 to N20 billion monthly. Even the President of Nigeria would struggle with that, let alone a state governor,” he remarked. Okowa pointed out the substantial salary obligations in Delta, with over 56,000 employees, which at times exceeded N11 billion monthly.

Okowa also praised his successor, Governor Sheriff Oborevwori, and affirmed his ongoing support for the administration’s development agenda, especially in riverine areas, which he claims were neglected by previous leaders.