EFCC Uncovers Massive Fraud: ₦5 Billion, $10 Million Recovered From Refinery Maintenance Scam

The Economic and Financial Crimes Commission (EFCC) has recovered over ₦5 billion and $10 million from contractors and government officials implicated in fraudulent dealings tied to the turnaround maintenance of Nigeria’s refineries in Port Harcourt, Kaduna, and Warri.....KINDLY READ THE FULL STORY HERE▶

According to findings by Punch, the agency is also pursuing an additional ₦10 billion and $13 million suspected to have been siphoned through inflated contracts and questionable payments.

EFCC Chairman, Ola Olukoyede, is said to be directly overseeing the investigation, expressing dismay at the persistent non-functional state of the refineries despite decades of huge public spending.

Nigeria’s four state-owned refineries have remained largely dormant for years, even after successive administrations allocated billions of dollars for maintenance. The facilities in Warri, Kaduna, and Port Harcourt continue to underperform, leaving the nation heavily reliant on imported petroleum products.

Investigations have zeroed in on funds allocated to the projects — including $1.55bn for Port Harcourt, $740m for Kaduna, and $656m for Warri refineries — with sources confirming widespread fraud through contract inflation, over-invoicing, and suspicious payments.

“So far, ₦5bn and $10m have been recovered from contractors and officials involved in the fraud,” a source revealed, adding that former refinery management teams, alongside current and retired NNPCL officials, have been interrogated.

Another insider disclosed that more recoveries are underway, with ₦10bn and $13m identified as additional funds diverted through contractors. The EFCC is also probing fresh allegations of inflated contracts worth $40 million, allegedly linked to NNPCL officials and their partners.

Though the EFCC’s spokesperson, Dele Oyewale, could not be reached for comment, a senior official confirmed the recoveries and hinted that charges may soon be filed against some of those indicted.