The All Progressives Congress (APC) has reacted strongly to the recent arrest of former Delta State Governor Ifeanyi Okowa by the Economic and Financial Crimes Commission (EFCC), igniting significant political debate across Nigeria.
Okowa, who governed Delta State from 2015 to 2021 and was the vice-presidential candidate alongside Atiku Abubakar in the 2023 election, faces allegations of misappropriating N1.3 trillion in derivation funds.
The APC’s response reflects growing scrutiny over financial conduct among political figures, with calls from both politicians and the public for accountability. The arrest has intensified discussions on anti-corruption efforts and transparency in government finance.
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.