“About N80bn has so far been discovered in his various accounts. The way things are going, it may be bigger than Emefielegate,” the official stated.
The Economic and Financial Crimes Commission has arrested the sacked managing directors of the Port Harcourt, Warri, and Kaduna refineries over the alleged misappropriation of nearly $3bn allocated for facility rehabilitation.
A top EFCC source disclosed that N80bn was traced to the personal accounts of one of the ex-MDs.
“About N80bn has so far been discovered in his various accounts. The way things are going, it may be bigger than Emefielegate,” the official stated.
The EFCC is investigating $1.56bn, $740.6m, and $656.9m allocated to the Port Harcourt, Kaduna, and Warri refineries, respectively.
Former NNPCL Group CEO Mele Kyari and 13 other ex-officials are also under scrutiny, as the anti-graft agency requests full records of their emoluments and allowances.
Experts and marketers have criticised the NNPCL for misleading the public about the operational state of the refineries. Energy analyst Kelvin Emmanuel described the commissioning ceremonies as “a charade.”
Meanwhile, Warri refinery staff have threatened to strike on May 5 over casualisation and broken promises, which may stall restart plans.
IPMAN and PETROAN have called for a full probe into the refineries’ operations and alleged deception.
“The government is only wasting money,” said energy expert Dan Kunle, who blamed poor planning and infrastructure gaps for the failed revamps.