The Economic and Financial Crimes Commission (EFCC) has launched a full-scale investigation into a massive corruption scandal involving the former Managing Director of the Port Harcourt Refinery, Ibrahim Onoja, who is accused of mismanaging and diverting $2.96 billion allocated for refinery rehabilitation projects.
According to credible sources within the anti-graft agency, a staggering N80 billion has been traced to Onoja’s personal accounts, allegedly siphoned under the pretense of “contract reimbursable” expenditures.
The funds, which were part of a broader national effort to revive Nigeria’s ailing refineries, were reportedly funneled through ghost contracts, inflated billing, and fraudulent reimbursements—a method investigators believe was carefully orchestrated by Onoja and a network of insiders.
“This wasn’t just embezzlement—it was strategic sabotage,” one EFCC official said under anonymity. “There are strong indications that Mr. Onoja also undermined ongoing rehabilitation efforts and resisted reform efforts led by Mr. Bayo Akinlere, who had been appointed as the project coordinator.”
Sources say the scheme not only drained public funds but also crippled progress on the long-awaited refinery rehabilitation project, which has remained a national priority amid rising fuel import costs and domestic energy insecurity.
As investigations deepen, EFCC officials are expected to summon key collaborators, financial institutions, and contractors connected to the controversial transactions. Legal experts predict this could be one of the biggest anti-corruption cases of the year, with calls for international asset recovery and prosecution already mounting.
