EFCC Arrests Ex-NNPCL Top Official For Alleged $7.2bn Fraud
THECONSCIENCE NG reports that operatives of the Economic and Financial Crimes Commission (EFCC) have arrested a former Chief Financial Officer (CFO) of the Nigerian National Petroleum Company Limited (NNPCL), Umar Isa, over an alleged $7.2 billion fraud linked with the rehabilitation of the Kaduna, Warri and Port Harcourt refineries.
EFCC’s spokesperson, Dele Oyewale, could not be reached for his comments.
Last week, the Senate Committee on Public Accounts, chaired by Aliyu Wadada, raised the alarm over discrepancies involving trillions of naira in the audited financial statements of the oil corporation, describing the revelations as mind-boggling and worrisome.
The committee underscored that the concerns stem directly from the analysis of NNPCL’s audited financial statements from 2017 to 2023. The committee immediately handed over a list of 11 queries to the company’s finance team and gave them one week to return with answers.
