All Progressive Congress(APC) reacts to The recent arrest of former Delta State Governor Ifeanyi Okowa by the Economic and Financial Crimes Commission (EFCC) has reverberated through Nigeria’s political circles, drawing sharp reactions from the public and politicians alike.
Okowa, who served as governor from 2015 to 2021 and was Atiku Abubakar’s running mate in the 2023 presidential election, was detained over allegations of misappropriating N1.3 trillion from Delta State’s derivation funds.
On November 4, 2024, Okowa appeared at the EFCC’s Port Harcourt office after being summoned by investigators. The former governor was promptly detained amid ongoing investigations into alleged financial misconduct during his administration. EFCC officials accuse him of failing to account for billions allocated from the federation account, specifically targeting the 13% derivation fund set aside for Delta State’s development.
The allegations against Okowa are as weighty as they are numerous. Investigators allege he misused funds designated for state projects, with substantial sums purportedly diverted for personal benefit.
Among the claims is that Okowa spent N40 billion to acquire shares in UTM Floating Liquefied Natural Gas (LNG), representing an 8% equity stake in a major Nigerian bank intended to support offshore LNG initiatives. However, EFCC sources suggest the money may have been redirected toward real estate investments in Abuja and Asaba, raising red flags about potential embezzlement.
During his time as governor, Okowa spearheaded several development projects aimed at improving infrastructure and social welfare, though his administration frequently faced scrutiny for alleged financial opacity and accountability issues.
This controversy around Okowa isn’t new. The Network Against Corruption and Trafficking Initiative (NACAT) previously filed petitions urging investigations into his administration’s financial activities, specifically citing concerns over N600 billion in unexplained debt, a debt profile that reportedly stood at N480 billion by the end of his term, and over N150 billion in unpaid contracts. Such allegations have deepened public doubts regarding the management of public funds in Delta State.
Okowa’s prominent position in the Peoples Democratic Party (PDP) and his role as a vice-presidential candidate for the 2023 election have further amplified the political implications of his detention. Some analysts believe this arrest could unsettle party dynamics within the PDP and influence voter perceptions in the run-up to future elections. Within the APC (All Progressives Congress), Okowa’s arrest has been hailed as an essential step toward establishing accountability in governance. The ruling party sees this as part of a broader anti-corruption effort to bring transparency to public office.
“This arrest shows that we are committed to holding public officials accountable,” an APC spokesperson commented, highlighting the party’s stance on tackling corruption at all levels of government.
As the investigation progresses, Okowa remains detained at the EFCC facility in Port Harcourt. No formal charges have been filed yet, but the EFCC has indicated that it intends to conduct an exhaustive inquiry into the financial transactions conducted during his time as governor.
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