EFCC Arrests Ex-NNPCL Top Official For Alleged $7.2bn Fraud

Monday June 23, 2025

Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested a former Chief Financial Officer (CFO) of the Nigerian National Petroleum Company Limited (NNPCL), Umar Isa, over an alleged $7.2 billion fraud linked with the rehabilitation of the Kaduna, Warri and Port Harcourt refineries.

Also in the custody of the EFCC is Jimoh Olasunkanmi, a former Managing Director of Warri Refinery.

Isa, as CFO, was in charge of the release of funds for the turnaround maintenance of the three refineries. Isa and all the key officials involved in the maintenance of the refineries and other NNPC key projects are being investigated for alleged abuse of office, corruption, diversion of funds and kickbacks from contractors.

Other officials involved are the Managing Director of the Warri Refinery, Tunde Bakare; a former Managing Director of the Port Harcourt Refinery, Ahmed Dikko; and a former Managing Director of the Port Harcourt Refinery, Ibrahim Onoja, Channels NEWS reported.