The Economic and Financial Crimes Commission (EFCC) has reportedly recovered ₦5 billion and $10 million linked to fraudulent contracts in the turnaround maintenance of Nigeria’s three major refineries in Port Harcourt, Kaduna, and Warri.
According to findings, contractors working with officials of the Nigerian National Petroleum Company Limited (NNPCL) allegedly diverted funds through inflated contracts, over-invoicing, and irregular payments.
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The anti graft agency has already interrogated several former and current executives of the NNPCL and is preparing charges against those implicated.
Insiders at the commission confirmed that investigators are pursuing an additional ₦10 billion and $13 million traced to fraudulent contractors.
EFCC Chairman, Ola Olukoyede, is personally supervising the probe, expressing dismay that the refineries remain dormant despite billions spent on rehabilitation.
Official records indicate that more than $1.5 billion was budgeted for Port Harcourt refinery, $740 million for Kaduna, and $656 million for Warri. However, none of the refineries have functioned efficiently in decades, leaving Nigeria dependent on imports.
A senior EFCC official disclosed: “A total sum of $10 million and ₦5 billion has so far been recovered from contractors and government officials indicted in the fraud. More recoveries are underway.”
The commission is also investigating new allegations involving $40 million in inflated contracts, allegedly connected to equipment purchases for the refineries. With several case files now concluded, the EFCC is expected to press formal charges against implicated ex-officials and contractors.
 has reportedly recovered ₦5 billion and $10 million linked to fraudulent contracts in the turnaround maintenance of Nigeria’s three major refineries in Port Harcourt, Kaduna, and Warri.){kind=link}