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In a jaw-dropping twist, Nigeria’s Economic and Financial Crimes Commission (EFCC) has uncovered a massive $2.9 billion fraud tied to the mismanagement of funds meant to revive the Port Harcourt, Warri, and Kaduna refineries. The bombshell? A staggering N80 billion was allegedly traced to the bank accounts of a sacked managing director, whose identity remains under wraps. With billions allocated—$1.56 billion for Port Harcourt, $740.67 million for Kaduna, and $656.96 million for Warri—the refineries still limp along, barely functional despite claims of resumed operations in late 2024.
The EFCC has hauled in big names, including former Port Harcourt MD Ibrahim Onoja and Warri’s Efifia Chu, while other Nigerian National Petroleum Company Limited (NNPCL) officials are also in the hot seat. Nigerians are fuming, with many on X calling out the NNPCL’s reliance on fuel imports as a cover for deep-rooted corruption. But here’s the kicker: the investigation is still unfolding, and the full truth—along with who’s really behind this colossal scam—remains shrouded in mystery.
What’s the real story behind the N80 billion? How did billions vanish while Nigeria’s refineries crumbled? And who else is involved in what could be one of the biggest frauds in the country’s history? Stay tuned as we dig deeper into this unfolding scandal that’s shaking the nation.
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