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Refinery fraud: EFCC recovers billions as ex-NNPCL officials face ... Punch Newspaper The Economic and Financial Crimes Commission has recovered over N5bn and $10m from contractors and government officials indicted in the fraud in the turnaround maintenance of the nation’s refineries in Port Harcourt, Kaduna and Warri. Sunday PUNCH reliably gathered that the anti-graft agency was working to recover another N10bn and $13m allegedly siphoned through contractors engaged in the maintenance. Punch correspondent learnt that the EFCC Chairman, Ola Olukoyede, took personal charge of the investigation owing to his displeasure with the non-functional refineries in spite of humongous public spendings on them. Sunday PUNCH reports that Nigeria’s four refineries have been largely dormant for decades despite several attempts at rehabilitation. Successive administrations have budgeted billions of dollars for their turnaround maintenance, but the facilities in Warri, Kaduna, and Port Harcourt have continued to underperform, forcing the country to rely heavily on imported petroleum products. The EFCC is said to be probing the sum of $1,559,239,084.36 allocated to the Port Harcourt refinery, …

EFCC Recovers ₦38.66bn, Properties in Alleged Refinery Rehabilitation ... Home Headline EFCC Recovers ₦38.66bn, Properties in Alleged Refinery Rehabilitation Fraud Probe EFCC Recovers ₦38.66bn, Properties in Alleged Refinery Rehabilitation Fraud Probe Headline Published on June 28, 2026 By News Digest Facebook X Pinterest WhatsApp The Economic and Financial Crimes Commission (EFCC) has recovered assets worth approximately ₦38.66 billion in its ongoing investigation into the alleged diversion of funds earmarked for the rehabilitation of Nigeria’s state-owned refineries. The recoveries include over ₦9.4 billion in cash, $21.2 million (estimated at about ₦29.26 billion at the official exchange rate), and several landed properties allegedly linked to suspects under investigation. According to investigators, the probe centres on allegations of criminal conspiracy, diversion of public funds, money laundering, abuse of office, economic sabotage and contract fraud involving officials of Nigerian National Petroleum Company Limited, its subsidiary, the NNPC Engineering and Technical Company Limited (NETCO), former and serving refinery executives, and major contractors, including Daewoo Engi…

Refinery Maintenance Fraud: EFCC Recovers N5bn, $10m As Ex-NNPCL Chiefs ... THE Economic and Financial Crimes Commission (EFCC) has recovered over ₦5 billion and $10 million from contractors and officials implicated in the multi-billion-dollar fraud that crippled the rehabilitation of Nigeria’s refineries in Port Harcourt, Kaduna, and Warri. Investigations, according to reliable sources, are also zeroing in on an additional ₦10 billion and $13 million allegedly siphoned by contractors under the guise of turnaround maintenance (TAM) contracts that yielded little or no results despite huge allocations. The EFCC Chairman, Ola Olukoyede, is said to have taken personal charge of the investigation, expressing frustration at the continued dormancy of the country’s refineries despite decades of heavy spending running into billions of dollars. Nigeria’s four state-owned refineries have remained largely non-functional, forcing the nation to rely on imported petroleum products despite successive administrations allocating vast sums for their rehabilitation. Findings by the commission revealed that a staggering $1.55 billion was allocated for Port Harcourt refinery, $740.6 million for Kaduna …

EFCC Recovers N5bn, $10m in Refinery Turnaround Maintenance Fraud Sign in Welcome! Log into your account Forgot your password? Get help New Policy in the Civil Service: Hypocrisy at Work? Password recovery Recover your password A password will be e-mailed to you. Home Financial EFCC Recovers N5bn, $10m in Refinery Turnaround Maintenance Fraud EFCC Recovers N5bn, $10m in Refinery Turnaround Maintenance Fraud EFCC By Hafsat Ibrahim August 17, 2025 Facebook X Pinterest WhatsApp Advertisement EFCC Recovers N5bn, $10m in Refinery Turnaround Maintenance Fraud The Economic and Financial Crimes Commission (EFCC) has recovered more than N5 billion and $10 million from contractors and government officials implicated in fraudulent activities linked to the turnaround maintenance of Nigeria’s refineries in Port Harcourt, Kaduna, and Warri. Findings revealed that the anti-graft agency is also pursuing the recovery of an additional N10 billion and $13 million allegedly siphoned through inflated contracts and questionable transactions in the rehabilitation projects. Sources within the agency disclosed that Ola Olukoyede, EFCC Chairman, has personally taken charge of the investigation, expressing …

Refinery Maintenance Fraud: EFCC Recovers N38.66 Billion, Other Properties Refinery Maintenance Fraud: EFCC Recovers N38.66 Billion, Other Properties by Peoplesmind - 6/28/2026 08:21:00 PM 0 by Abdulkareem Mojeed The Economic and Financial Crimes Commission (EFCC) has recovered over N9.4 billion, $21.2 million, and several landed properties in an ongoing investigation into the alleged diversion of funds released for the rehabilitation and turnaround maintenance of Nigeria’s refineries, PREMIUM TIMES can report. Based on the Central Bank of Nigeria’s official market rate of N1,380/$1 posted on Friday, the $21.2 million recovered is approximately N29.26 billion, bringing the total amount recovered so far to N38.66 billion. The recoveries are part of what investigators described as one of the most extensive probes into the management of billions of dollars committed to reviving the country’s moribund refineries. Sources at the EFCC, briefed on the investigations, told this newspaper that the investigation centres on allegations of criminal conspiracy, breach of trust, diversion of public funds, economic sabotage, abuse of office and money laundering involving officials of the Nigeria…

Refinery Maintenance Fraud: EFCC recovers over ₦38.66 billion, other ... Refinery Maintenance Fraud: EFCC recovers over ₦38.66 billion, other properties News By solacebase.com On Jun 28, 2026 Port Harcourt Refinery Share The Economic and Financial Crimes Commission (EFCC) has recovered over N9.4 billion, $21.2 million, and several landed properties in an ongoing investigation into the alleged diversion of funds released for the rehabilitation and turnaround maintenance of Nigeria’s refineries, PREMIUM TIMES can report. Based on the Central Bank of Nigeria’s official market rate of N1,380/$1 posted on Friday, the $21.2 million recovered is approximately N29.26 billion, bringing the total amount recovered so far to N38.66 billion. The recoveries are part of what investigators described as one of the most extensive probes into the management of billions of dollars committed to reviving the country’s moribund refineries. Sources at the EFCC, briefed on the investigations, told this newspaper that the investigation centres on allegations of criminal conspiracy, breach of trust, diversion of public funds, economic sabotage, abuse of office and money laundering involving officials of the…

Refinery Fraud: EFCC Recovers Billions, Ex-NNPCL Officials F Refinery fraud: EFCC recovers billions as ex-NNPCL officials face prosecution August 17, 2025 7:20 am File Photo: EFCC operatives By Solomon Odeniyi Kindly share this story: The Economic and Financial Crimes Commission has recovered over N5bn and $10m from contractors and government officials indicted in the fraud in the turnaround maintenance of the nation’s refineries in Port Harcourt, Kaduna and Warri. Sunday PUNCH reliably gathered that the anti-graft agency was working to recover another N10bn and $13m allegedly siphoned through contractors engaged in the maintenance. Our correspondent learnt that the EFCC Chairman, Ola Olukoyede, took personal charge of the investigation owing to his displeasure with the non-functional refineries in spite of humongous public spendings on them. Sunday PUNCH reports that Nigeria’s four refineries have been largely dormant for decades despite several attempts at rehabilitation. Successive administrations have budgeted billions of dollars for their turnaround maintenance, but the facilities in Warri, Kaduna, and Port Harcourt have continued to underperform, forcing the country to rely …

EXCLUSIVE: Refinery Maintenance Fraud: EFCC recovers ₦38.66 billion, other properties <img width="800" height="449" src="https://i0.wp.com/media.premiumtimesng.com/wp-content/files/2020/06/Kaduna-refinery-e1598968650399.jpg?fit=800%2C449&amp;ssl=1" class="webfeedsFeaturedVisual wp-post-image" alt="Kaduna Refinery" style="display: block; margin: auto; margin-bottom: 5px;max-width: 100%;" link_thumbnail="" decoding="async" /><p>The anti-graft agency is preparing to prosecute some former and serving officials of the NNPC and contractors over alleged abuse of office, money laundering and contract fraud.</p> <p>The post <a href="https://www.premiumtimesng.com/business/business-news/891183-exclusive-refinery-maintenance-fraud-efcc-recovers-%e2%82%a638-66-billion-other-properties.html">EXCLUSIVE: Refinery Maintenance Fraud: EFCC recovers ₦38.66 billion, other properties</a> appeared first on <a href="https://www.premiumtimesng.com">Premium Times Nigeria</a>.</p>

EFCC Recovers Billions in Refinery Maintenance Fraud, Moves to ... Get the latest creative news from FooBar about art, design and business. By Peter Omopo – March 17, 2025. The Economic and Financial Crimes Commission (EFCC) has recovered over₦5 billion and $10 millionfrom contractors and government officials indicted in the alleged multi-billion naira fraud tied to the turnaround maintenance of Nigeria’s refineries in Port Harcourt, Kaduna, and Warri. Investigations, according to EFCC sources, have also uncovered an additional₦10 billion and $13 millionbelieved to have been siphoned through inflated contracts and questionable payments, which the agency is working to recover. The EFCC Chairman,Ola Olukoyede, is said to have personally overseen the probe, reportedly displeased by Nigeria’s continued reliance on imported petroleum products despite the billions allocated over the years to rehabilitate the refineries. Nigeria’s four refineries have remained largely dormant for decades, despite successive administrations approving enormous funds for turnaround maintenance. Records show that$1.56 billion was allocated to the Port Harcourt refinery, $740.6 million to the Kaduna refi…

Nigeria: Exclusive - Refinery Maintenance Fraud: EFCC Recovers &#x20A6;38.66 Billion, Other Properties [Premium Times] The anti-graft agency is preparing to prosecute some former and serving officials of the NNPC and contractors over alleged abuse of office, money laundering and contract fraud.

Nigeria: Exclusive - Refinery Maintenance Fraud: EFCC Recovers ₦38.66 ... The anti-graft agency is preparing to prosecute some former and serving officials of the NNPC and contractors over alleged abuse of office, money laundering and contract fraud. The Economic and Financial Crimes Commission (EFCC) has recovered over N9.4 billion, $21.2 million, and several landed properties in an ongoing investigation into the alleged diversion of funds released for the rehabilitation and turnaround maintenance of Nigeria's refineries, PREMIUM TIMES can report. Based on the Central Bank of Nigeria's official market rate of N1,380/$1 posted on Friday, the $21.2 million recovered is approximately N29.26 billion, bringing the total amount recovered so far to N38.66 billion. The recoveries are part of what investigators described as one of the most extensive probes into the management of billions of dollars committed to reviving the country's moribund refineries. Keep up with the latest headlines onWhatsApp|LinkedIn Sources at the EFCC, briefed on the investigations, told this newspaper that the investigation centres on allegations of criminal conspiracy, breach of trust, diversion of public …

EXCLUSIVE: EFCC charges former Port Harcourt, Warri refinery MDs with money laundering <img width="1280" height="711" src="https://i0.wp.com/media.premiumtimesng.com/wp-content/files/2024/04/EFCC-Headquarters.png?fit=1280%2C711&amp;ssl=1" class="webfeedsFeaturedVisual wp-post-image" alt="EFCC Headquarters" style="display: block; margin: auto; margin-bottom: 5px;max-width: 100%;" link_thumbnail="" decoding="async" srcset="https://i0.wp.com/media.premiumtimesng.com/wp-content/files/2024/04/EFCC-Headquarters.png?w=1280&amp;ssl=1 1280w, https://i0.wp.com/media.premiumtimesng.com/wp-content/files/2024/04/EFCC-Headquarters.png?resize=526%2C292&amp;ssl=1 526w, https://i0.wp.com/media.premiumtimesng.com/wp-content/files/2024/04/EFCC-Headquarters.png?resize=768%2C427&amp;ssl=1 768w, https://i0.wp.com/media.premiumtimesng.com/wp-content/files/2024/04/EFCC-Headquarters.png?resize=150%2C83&amp;ssl=1 150w, https://i0.wp.com/media.premiumtimesng.com/wp-content/files/2024/04/EFCC-Headquarters.png?resize=750%2C417&amp;ssl=1 750w, https://i0.wp.com/media.premiumtimesng.com/wp-content/files/2024/04/EFCC-Headquarters.png?resize=1140%2C633&amp;ssl=1 1140w" sizes="(max-width: 1280px) 100vw, 1280px" />…