The Economic and Financial Crimes Commission (EFCC) has arrested former Chief Financial Officer of the Nigerian National Petroleum Company Limited (NNPCL), Umar Ajiya Isa, in connection with a sprawling $7.2 billion scandal involving the failed rehabilitation of Nigeria’s key oil refineries.
Isa’s arrest marks a major development in an ongoing investigation into the massive disbursement and suspected diversion of funds meant to revive the Kaduna, Warri, and Port Harcourt refineries—critical infrastructure long crippled by neglect and inefficiency.
According to EFCC sources, over $2.9 billion earmarked specifically for the refineries’ turnaround maintenance is now under intense scrutiny. Among the figures: $1.56 billion for Port Harcourt refinery, $740 million for Kaduna, and $657 million for Warri.
A senior EFCC investigator, speaking off-record, said:
“As CFO, Isa had significant oversight over fund allocations. The scale of mismanagement uncovered so far is alarming. We believe billions were either misappropriated or diverted through inflated contracts and phantom maintenance activities.”
The crackdown doesn’t end with Isa. The EFCC has also detained former Warri Refinery MD, Jimoh Olasunkanmi, with more arrests reportedly imminent. Other past and present refinery heads—Tunde Bakare (Warri), Ahmed Adamu Dikko and Ibrahim Onoja (Port Harcourt)—are under the radar for alleged corruption, abuse of office, and receiving kickbacks from contractors.
This is not the first time refinery funding has sparked controversy. In April 2025, multiple executives of NNPCL subsidiaries were quietly arrested in what is now understood to be the early stages of a much broader probe.
For decades, Nigerians have watched billions vanish into failed promises of refinery revitalization while the country continues to import fuel—despite being Africa’s largest oil producer.
What’s especially troubling, analysts say, is that the funds in question represent real hopes dashed: millions of citizens forced to endure high fuel prices, subsidy burdens, and job losses in a sector that should be booming.
Meanwhile, EFCC sources say they are determined to pursue the matter to its conclusion, regardless of rank or influence.
Public reaction is growing, with many Nigerians taking to social media to demand transparency and swift justice. Calls have also intensified for the federal government to not only prosecute those involved but also to recover looted funds and finally deliver on the long-promised refinery repairs.
As of press time, EFCC spokesperson Dele Oyewale has yet to issue an official statement. But one thing is clear: this investigation is shaping up to be one of the most high-stakes anti-corruption battles in recent memory—one that may finally hold powerful oil-sector figures accountable for the decades-long refinery rot.
