EFCC Recovers ₦38.66bn in Refinery Maintenance Probe, Prepares Charges

The anti-graft agency has recovered over ₦9.4 billion, $21.2 million (about ₦29.26 billion) and several properties in its investigation of alleged fraud at Port Harcourt, Warri and Kaduna refineries. The probe targets former and serving officials of the Nigerian National Petroleum Company, its subsidiary NETCO, and major contractors over money laundering, abuse of office and contract fraud. Investigators found no evidence that $2.79 billion spent on quick repairs led to improved refinery performance. Key figures named include the ex-MDs of Port Harcourt and Warri refineries, accused of approving inflated invoices, unauthorised payments and diverting funds. Interim forfeiture orders have been secured on traced assets as prosecutors ready criminal charges. The investigation continues amid wider questions on why state refineries remain inoperable despite billions in investment. More recoveries and prosecutions are expected as new evidence emerges.

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