Fatshimetrie, a reputable publication, recently reported on a case that is shaking the political scene in Nigeria. Indeed, the former governor of Delta State, Ifeanyi Okowa, who ruled the state from 2015 to 2023, is accused of embezzling funds from the 13% derivation fund, meant for oil-producing states.
According to sources close to the investigation, Okowa’s arrest came about when he voluntarily surrendered to the EFCC office in Port Harcourt, in response to a summons over allegations of mismanagement.
The funds in question were meant for the development of oil-rich states, but it appears that they have been diverted over the years. In addition to the alleged diversion of N1.3 trillion, Okowa is also under investigation for the alleged embezzlement of N40 billion.
The large sum was allegedly used to acquire shares in UTM Floating Liquefied Natural Gas, an ambitious facility currently under development by UTM Offshore Limited in Akwa Ibom. Furthermore, EFCC sources indicated that Okowa is suspected of using public funds to purchase real estate in Abuja and Asaba, the Delta State capital.
“There are many assets linked to these funds, including real estate in major cities that appear to be unaccounted for,” an inside source said. These allegations raise serious concerns about transparency and accountability in the management of public resources in Nigeria.
This case highlights the importance of good governance and the fight against corruption in the country. It is crucial that political leaders are held accountable for their actions and that effective measures are taken to ensure that public funds are properly managed. Nigerians deserve leadership with integrity and transparency that can promote the development and well-being of all citizens.
In conclusion, the Okowa case highlights the need for increased oversight and accountability in the management of public resources. The relevant authorities must conduct a thorough investigation and ensure that justice is done in this case.