The Economic and Financial Crimes Commission (EFCC) on Monday arrested Dr. Ifeanyi Okowa, the immediate past Governor of Delta State and the People’s Democratic Party (PDP) vice-presidential candidate in the 2023 election. Okowa, who arrived at the EFCC’s Port Harcourt office after being summoned by investigators, is under scrutiny for alleged corruption and misuse of funds during his time as governor from 2015 to 2023.

A source within the EFCC disclosed that Okowa is being investigated over an alleged diversion of N1.3 trillion from Delta State’s 13% oil derivation fund. The funds, which are constitutionally allocated to oil-producing states to support development projects, were reportedly siphoned off during Okowa’s administration.

The EFCC spokesperson, Dele Oyewale, confirmed the arrest but declined to elaborate on the details. “Yes, I can confirm he was arrested,” he said, refusing to answer further questions.

In addition to the alleged fund misappropriation, sources revealed that Okowa is also suspected of using N40 billion from state funds to purchase shares in a bank as part of an investment in UTM Floating Liquefied Natural Gas (FLNG), which is tied to an offshore LNG project. The investigation suggests that the funds may not have been used for the intended purpose, as there are suspicions about the actual destination of the money.

Further allegations against Okowa include the acquisition of substantial real estate in Abuja and Asaba, Delta State’s capital, which investigators are examining as part of their probe into possible corruption and misappropriation of public funds.

If formal charges are filed, Okowa would become the fifth former governor to be prosecuted under EFCC Chairman Ola Olukoyede. High-profile former governors currently facing trial include Willie Obiano (Anambra), Abdulfatah Ahmed (Kwara), and Darius Ishaku (Taraba). Meanwhile, Kogi State Governor Yahaya Bello is also under investigation, although his arraignment has been delayed by ongoing legal battles up to the Supreme Court.

The EFCC recently announced plans to publicize the names of former governors under investigation once substantial evidence for prosecution is gathered. The agency’s action comes amid a growing effort to hold public officials accountable for alleged misuse of public funds, with Okowa’s arrest marking one of the largest recent corruption cases involving state governors.