According to Channels TV, EFCC operatives have arrested former NNPCL CFO, Umar Isa, over an alleged $7.2bn fraud involving Nigeria’s refinery rehabilitation projects. The investigation, part of an ongoing audit trail into questionable spending, also involves former Warri Refinery MD Jimoh Olasunkanmi.
- The $7.2bn was tied to turnaround maintenance of the Kaduna, Warri, and Port Harcourt refineries.
- Other suspects include former MDs of the Port Harcourt and Warri refineries.
- The Senate recently raised alarm over ₦200trn in unaccounted NNPCL funds from 2017–2023.
- EFCC’s wider probe targets diversion, kickbacks, and abuse of office tied to key oil assets.
Audit trail isn’t just an accounting term; it’s a story of trust unravelled. The billions lost aren’t just numbers; they represent hospitals never built, roads never paved, and families still queuing at empty fuel pumps.
When have you followed an audit trail in your own life, looking back to find what was taken, hidden, or denied?
