“Corruption Crackdown: Ex-NNPC CFO Responds To EFCC Arrest In Fiery Statement”

Former Chief Finance Officer (CFO) of the Nigerian National Petroleum Company Limited (NNPC Ltd), Umar Ajiya Isa, has refuted claims that he was arrested by the Economic and Financial Crimes Commission (EFCC) in connection with an alleged $7.2 billion fraud.

Former Chief Finance Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd), Umar Ajiya Isa, has denied reports claiming he was arrested by the Economic and Financial Crimes Commission (EFCC) in connection with a $7.2 billion fraud tied to the rehabilitation of Nigeria’s refineries.

In a statement released on Wednesday, Mr. Isa clarified that he voluntarily appeared before the EFCC for questioning and was neither arrested nor detained. He described reports suggesting otherwise as false and misleading.

According to earlier reports, Mr. Isa was allegedly detained alongside Jimoh Olasunkanmi, a former Managing Director of the Warri Refinery, over fraud allegations related to the rehabilitation of the Kaduna, Warri, and Port Harcourt refineries—facilities that have remained largely non-functional despite repeated funding allocations for turnaround maintenance.

Mr. Isa, who oversaw the disbursement of funds for the rehabilitation projects during his time at NNPC, insisted he left the company with his integrity intact and has never faced any allegations of fraud.

“I was not arrested by the EFCC. On my own volition, I presented myself to the Commission for questioning. The narrative being circulated in the media about my arrest in connection with a $7.2 billion refinery fraud is entirely false,” he stated. “At no point was I detained or accused of wrongdoing in relation to transactions involving the Warri or Port Harcourt refineries.”

He described the media reports as an attempt to smear his reputation, emphasizing that he remains willing to cooperate with the EFCC whenever called upon.

“I am proud of my record at NNPC. No one has accused me of corruption during my service. I am always available to defend my name and will continue to support lawful investigations aimed at improving transparency,” he added.

In May, it was reported that the EFCC had launched an investigation into alleged financial misconduct by former top executives of NNPC Ltd, including ex-Group Chief Executives Mele Kyari and Abubakar Yar’Adua. A letter from the EFCC, dated 28 April 2025, revealed that the probe focuses on the disbursement of over $2.9 billion meant for the rehabilitation of the country’s three refineries.

The EFCC requested certified salary and allowance records of 14 current and former senior officials, including Messrs Kyari, Yar’Adua, and former refinery managing directors Ibrahim Onoja (Port Harcourt), Mustafa Sugungun (Kaduna), and Efifia Chu (Warri).

Funds under scrutiny include $1.56 billion for Port Harcourt Refinery, $740.6 million for Kaduna, and $656.9 million for Warri—released under a widely criticized rehabilitation program.

Following a major leadership shake-up initiated by President Bola Tinubu, several officials linked to the scheme were dismissed or retired. Tinubu also dissolved the NNPC board and appointed Bayo Ojulari as the new Group Chief Executive Officer, with Ahmadu Kida as board chairman.

In the same month, The Punch reported that the EFCC had detained several former refinery executives in connection with the alleged diversion of funds. One of the dismissed managing directors reportedly had about ₦80 billion traced to personal accounts.

These developments come alongside a forensic audit of the NNPC, ordered by Finance Minister and Coordinating Minister of the Economy, Wale Edun, as part of broader fiscal reforms aimed at increasing Nigeria’s dollar revenues.

Despite billions in public spending, Nigeria’s refineries continue to struggle. The Warri Refinery, briefly reopened in December 2024, was shut down again in January due to safety concerns. Just last month, the NNPC announced the shutdown of the Port Harcourt Refinery.