NewStats: 3,263,750 , 8,181,262 topics. Date: Saturday, 07 June 2025 at 05:30 PM 5k2d3b

6382y

$3 Billion Refinery Fraud: ₦‎80 Billion Found In Sacked MD’s Bank s - Politics - Nairaland 1u111c

$3 Billion Refinery Fraud: ₦‎80 Billion Found In Sacked MD’s Bank s (28941 Views)

(4)

(1) Go Down)

adenigga(m): 6:07am On May 03
P’Harcourt, Warri, Kaduna refineries’ MDs arrested
Kyari, 13 senior ex-NNPCL officials face probe


The Economic and Financial Crimes Commission has arrested the recently sacked managing directors and some top officials of the Port Harcourt Refining Company, Warri Refining and Petrochemical Company, and Kaduna Refining and Petrochemical Company.

The officials were arrested over alleged mismanagement of funds earmarked for the rehabilitation of the facilities. The total amount under investigation is $2,956,872,622.36.

Findings by Saturday PUNCH showed that the EFCC is probing the sum of $1,559,239,084.36 allocated to the Port Harcourt refinery, $740,669,600 released for the Kaduna refinery, and $656,963,938 approved for the Warri refinery.

The ex-Managing Director of Port Harcourt Refining Company Ltd is Mr Ibrahim Onoja, while Efifia Chu served as the ex-Managing Director of the Warri Refining and Petrochemical Company Ltd.

This came as impeccable top management sources at the Nigerian National Petroleum Company Limited revealed that N80bn was found in the of one of the sacked MDs.

Also, operators and experts in the sector lambasted NNPCL for deceiving Nigerians regarding the operations of the refineries, particularly the Port Harcourt and Warri plants, following the poor output from the facilities since their resumption of operations in November and December 2024.

Dashed hope

NNPCL manages the three refineries for Nigerians. The plants had remained dormant for decades, but the Port Harcourt and Warri refineries resumed operations in November and December 2024, respectively.

However, less than one month after the Warri refinery resumed operations, the plant was again shut down due to safety concerns.

The Port Harcourt refinery, on the other hand, has been operating below 40 per cent of its capacity since its widely celebrated revamp.

On Tuesday, The PUNCH exclusively reported that the new NNPCL management fired the managing directors of the three refineries under its purview.

Some other senior officials of the national oil firm were also asked to leave; among them was Bala Wunti, a former chief of the National Petroleum Investment Management Services, a subsidiary of the NNPCL.

The new management also asked many officials with one year to their various retirement dates to leave.

Arrest of suspects


On Friday, a senior EFCC source, who spoke with Saturday PUNCH on the condition of anonymity due to the lack of authorisation to speak on the matter, revealed that the arrests of the three ex-MDs and top officials were part of an ongoing investigation into the billions of dollars released for the quick-fix maintenance of the three state-owned refineries.

“We are investigating the money that was released for the rehabilitation of all three refineries—money disbursed in recent times. All the principal officers within that time frame are being invited.

“Some have been arrested already, and we are still on the lookout for others. Nigerians are interested in seeing our refineries work. We are asking: where is the money, and what has happened to the refineries?” the official said.

The source added that the investigation was far-reaching, covering all key actors involved in the management of the refineries during the period in question.

The EFCC spokesman, Dele Oyewale, could not be reached as of the time of filing this report.

Earlier, sources at the NNPCL told Saturday PUNCH that one of the sacked MDs had been with the EFCC for about a week.

“Large amounts have been discovered in his s. About N80bn has so far been discovered in his various s. The way things are going, it may be bigger than Emefielegate,” the official, who spoke in confidence due to the nature of the probe, stated.

Another official stated, “All the three of them are being investigated by the EFCC. It is indeed sad!”

Kyari under probe

A document obtained by our correspondent on Friday from NNPCL, dated April 28, 2025, and titled, ‘Investigation Activities: Request for Information’, indicated that the probe by EFCC included the immediate past Group Chief Executive Officer of the national oil firm, Mele Kyari.

The EFCC document was addressed to the Group Managing Director (Group Chief Executive Officer) of the national oil company and contained the names of 13 other former senior executives of the NNPCL.

“The commission is investigating a case of abuse of office and misappropriation of funds in which the underlisted officials of your organisation featured,” the document stated.

It outlined the officials to include Abubakar Yar’Adua, Mele Kyari, Isiaka Abdulrazak, Umar Ajiya, Dikko Ahmed, Ibrahim Onoja, Ademoye Jelili, and Mustapha Sugungun.

Others are Kayode Adetokunbo, Efiok Akpan, Babatunde Bakare, Jimoh Olasunkanmi, Bello Kankaya and Desmond Inyama.


“In view of the above, you are kindly requested to furnish certified true copies of their emoluments and allowances, including that of those who have retired and no longer work with your organisation,” the anti-graft commission told the NNPCL boss.

The spokesperson for the NNPCL, Olufemi Soneye, has remained mute over allegations against top officials of the company, as he ignored repeated enquiries on the matter.

Lies uncovered

Although this is not the first time the company has feigned the effectiveness of its operations, citizens have noted that the lack of transparency not only deepens public distrust but also fuels speculation about the company’s true intentions and the actual state of Nigeria’s oil infrastructure.

On Tuesday, The PUNCH exclusively reported that the NNPCL came under fire as the $897m Warri refinery revamp flopped.

The report also stated that the $1.5bn newly repaired Port Harcourt refinery had been struggling at under 37.87 per cent production capacity.

This was after the revelation that the Warri Refining and Petrochemical Company had remained shut since January 25, 2025, due to safety issues in its Crude Distillation Unit Main Heater.

An April 2025 document on the Midstream and Downstream sector obtained from the Nigerian Midstream and Downstream Petroleum Regulatory Authority revealed that the refinery, which consumed $897.6m in maintenance costs, failed to produce Motor Spirit (petrol) and was shut down barely a month after former NNPCL boss, Kyari, declared it operational.

An investigation by Saturday PUNCH on January 5, 2025, revealed that skeletal activities were ongoing at the WRPC, compared with the heyday of the refinery when the company was working at full capacity. But NNPCL debunked this, stressing that production was ongoing.

The PUNCH reports that the 125,000 barrels per day capacity Warri refinery, which had been moribund for decades due to technical issues, was brought back to life by the national oil company on December 30, 2024.

The Warri refinery

Situated in Ekpan, Uwvie, and Ubeji areas of Warri, the petrochemical plant has an annual production capacity of 13,000 metric tonnes of polypropylene and 18,000 metric tonnes of carbon black.

Commissioned in 1978, the WRPC is operated by the NNPC and was established to cater to the markets in Nigeria’s southern and southwestern regions.

The PUNCH reported that President Bola Tinubu commended the NNPCL for completing the refurbishment of the 125,000-bpd capacity Warri refinery, which reportedly kicked off operations at 60 per cent capacity.


It is focused on producing and storing critical products, including Straight Run Kerosene, Automotive Gas Oil (diesel), and heavy and light Naphtha.

A month earlier, the national oil company, at a much-publicised event, announced the revitalisation of the 60,000 barrels per day old Port Harcourt refinery.

The $1.5bn rehabilitation project, funded through a loan facility backed by international financial institutions, was projected to restore the state-owned facility to full operational status after years of dormancy and seven postponements, with the latest failure occurring in September 2024, from its earlier target of December 2023.

But a few days after the fanfare, a visit by Saturday PUNCH to the refinery revealed that there was no activity on site, as some workers met by our correspondent claimed that the refinery was undergoing calibration. This was also denied by the company.


The NNPCL spokesperson, Soneye, had said that the refinery recommissioned on November 26, 2024, was operating at 70 per cent of its installed capacity, with plans to increase output to 90 per cent in subsequent months.

At its recommissioning, the state-owned firm stated that the Port Harcourt refinery would produce daily outputs of 1.4 million litres of Straight-Run Gasoline blended into Motor Spirit, 900,000 litres of Kerosene, 1.5 million litres of Automotive Gas Oil, 2.1 million litres of Low Pour Fuel Oil, and additional volumes of Liquefied Petroleum Gas.

The new NMDPRA document highlighting the refinery’s true state, however, linked the shutdown of WRPC to critical faults in the refinery’s Crude Distillation Unit Main Heater.

“The Warri Refining and Petrochemical Company was shut down on 25th Jan. 2025 due to safety concerns over the CDU Main Heater,” the document stated.

The PHRC facility, on its part, did not exceed 42.23 per cent of its operational capacity within the six months.

At another visit on Friday to the Warri refinery by Saturday PUNCH, some of staff who were seen around the premises declined to comment on the situation at the refinery.

Non-staff were denied access to the complex, as security operatives at the main gate insisted they were working on instructions.

Marketers ed also lamented they had been unable to lift petroleum products at the refinery.

Our correspondent did not see fuel-laden trucks either coming in or going out of the refinery during the visit.

FG deceiving Nigerians – Expert


An energy expert, Kelvin Emmanuel, said the Warri, Port Harcourt, and Kaduna refineries were never truly set to resume operations.

Speaking on Arise News, Emmanuel described the televised commissioning as a “charade,” accusing the government of staging the event to mislead the public.

He said, “For months, I had said that Warri, Port-Harcourt, and Kaduna were never going to come back into operation and that what Nigerians saw on television as the commissioning was just a charade.

“On August 12, 2021, the Federal Executive Council approved memos for monies worth $2.96bn to be raised for the turnaround maintenance of the three refineries.

“This money can build a brand new 60,000-barrel refinery. The last of these refineries was completed in 1989 by Shell. So these refineries were built as very sizable modular refineries to power the operations of operators off-stream.

“So they were not built to refine. The PHRC and WRPC don’t have a catalytic reform unit that can convert Naphtha to PMS.

“The 46km pipeline that was designed to supply feedstock from Escravos to Warri is out of service. So, how are you carrying crude oil to the refinery?


“One of the proofs that the NNPCL was deceiving Nigerians that it was refining is that most of our products are supplied from Lagos.

“We have a situation where $2.96bn was approved by the FEC, but there is nothing to show for it. So, if you claim that your refineries are operational, it is supposed to deliver up to 7 million litres. If you check the balance sheet of the company, the refineries are a loss-making business.”

Staff threaten strike

Meanwhile, plans to restart a section of Nigeria’s 125,000b/d Warri refinery are at risk due to an indefinite strike planned by plant staff scheduled to begin on Monday, May 5, 2025. The strike is in protest against casualisation, low pay, and lack of benefits.

A new report by Argus Media said the state-owned company had planned to restart the crude and vacuum distillation units (CDU and VDU) and a gas plant in the first week of May. But the staff have timed their strike to disrupt these plans.

staff representative, Dafe Ighomitedo, said the striking workers had been protesting their employment since 2015.

“A previous strike called in April 2022 would have delayed the start of the quick-fix programme, but it was called off following appeals from community leaders and a promise from refinery management to address the workers’ demands if they ed the programme,” Ighomitedo said.

“Workers were promised an improved salary structure upon the refinery’s restart, but that promise has not been fulfilled,” he added.

IPMAN worried, PETROAN demands probe

The Delta State Chairman of the Independent Petroleum Marketers Association of Nigeria, Harry Okenini, speaking with Saturday PUNCH, expressed worry over the non-production of petrol at the Warri refinery, months after the announced completion of its rehabilitation.

The IPMAN boss said, “Since the inauguration of the rehabilitated Warri refinery on January 5, 2025, there has been no green light for IPMAN to lift petroleum products from the facility.

“For the past months, there has been no product for marketers here, and we cannot just stay idle, so we decided to source products from the private depots.

“These private depot owners, today they will increase the price; tomorrow they will increase it again. So, the whole thing has caused problems for the business.”

He appealed to the Federal Government to give the newly-appointed board of the NNPCL a free hand to work.


Also, the Petroleum Products Retail Outlet Owners Association of Nigeria called for an investigation into the condition of the refineries.

Challenged by one of our correspondents to defend its earlier claims that the refineries were supplying fuel to its , PETROAN National President, Billy Gillis-Harry, said the refineries were working at the time he and his team visited the sites.

He said, “We had very clear knowledge because we had a technical team with us, and the evaluation showed that there was hope for these refineries to work. We are not the contractors; we are not the ones who maintain them.

“So, we went home with the fact that we saw the refineries working and the furnaces were lighting up. But if today they are not working, then, of course, PETROAN probably needs to revisit and check what happened and what didn’t happen, which we are going to do.

“Since this news came out, I have had meetings with NMDPRA and a few other critical leaders in the industry.

“For us, we want to encourage the system to be very efficient. But if what has been done is not good enough, of course, you can see that punishment is being meted out to those who managed it. So, we hope that things will become much better.”

An energy expert, Dan Kunle, described the much-celebrated renovation as a scandal.


Giving insights, Kunle said the Federal Government failed to convince the original builders of the refinery from Japan to come for its renovation, as the country’s government warned against insecurity.

He said another contractor was employed to fix these refineries at a high cost with nothing to show for it yet.

He said the government was only wasting money on renovating the refineries, saying the Kaduna refinery has no pipelines to supply it with crude oil.

“Why did we avoid Japan? Why did we go around when a sovereign authority like Nigeria could not convince Japan to come and fix the refinery? And the same Japanese company is in NLNG doing contracts.

“Kaduna refinery has no pipe to feed it. Even if you fix the Kaduna refinery with the $800m or $750m, how will crude get there? So why will you put the rehabilitation of that place on course and abandon the crude pipeline from Escravo to Warri, to Auchi, to Lokoja, to Suleja?

“The crude pipeline was built in the late 70s. Today, you cannot pressurise crude from Escravo to that place.

“All these three refineries, we are wasting money rehabilitating them,” Kunle stated.


He accused Kyari of launching media propaganda with public funds to deceive Nigerians that the refineries were working.

Source: https://punchng.com/$3bn-refinery-fraud-N80bn-found-in-sacked-MDs-bank-s

10 Likes 1 Share

GOFRONT(m): 6:12am On May 03
Hmmm

If 80b could be found in an of an ordinary MD of Oil company, How MUCH can we predict to be possibly found in the Akant of a whole GCEO Mele kyari?

And to think these team of barawos have their own private Refineries built in MALTA!!!

114 Likes 11 Shares

oluwaseunamos33(m): 6:21am On May 03
If no be greedy wey go kill you, tell me what are you doing with 80 billion?

111 Likes 11 Shares

helinues: 6:21am On May 03
Let them just refund the money. As the money is still available in the , it should be transferred to FG purse

The court process would eventually lead to a waste of time

118 Likes 4 Shares

Danisaint112(m): 6:22am On May 03
Naija! grin

I have someone in politics who told me that if you see the kind of money flying around in this Tinubu government—not just the looting, but the bribes to secure his second-term ambition—you will pity Nigeria.

I'm talking billions on a daily basis.

There is money in this country. The thing is, it’s just circulating among the elite. E no dey reach the hands of the masses.

From the information I’m getting, I’ve come to understand that if Tinubu wins his second-term bid—which is highly possible, especially now that he is in power—it is then Nigerians will understand the true meaning of suffering.

Knowing they’re on their way out, it’s now looting without pity, remorse, or any form of human consideration. All the bribes flying around must be recovered times seven, and Nigerians will be left to fight even harder for their daily bread.

As Joseph prepared, you all should also start preparing for the rainy days ahead, because the APC government is here to steal, kill, and destroy.

A word, they say, is enough for the wise.

104 Likes 6 Shares

ARISHEM: 6:22am On May 03
The federal government should have built a new refinery at $2,95billion embezzled. Opportunity makes a thief. And the federal government have been repeatedly giving this NNPC executives to become big thieves.
If they were not caught that one caught with N80 billion could surely use it to build 1 or 2 refineries and each of the executives will build their own refineries from the amount stolen

8 Likes 3 Shares

Vortex199: 6:23am On May 03
Thieves. And that 80bn is just the one that was discovered. Imagine how much they must have stashed in other places undecided I swear this life nor balance at all

15 Likes 3 Shares

owobokiri(m): 6:24am On May 03
That former Managing Director of the NNPC and his lieutnants were obviously a very corrupt bunch, as has always been the case with almost all the crooks appointed to those positions since the 70s when one Muhammadu Buhari appointed as the inaugural MD, turned the place into a cesspit of corruption. The Petroleum ministry and the NNPC are the ultimate "come and chop" positions in Nigerias political appointments. That evil has since been normalised..

Problem with this report though is that it is starting to look like certain groups within the presidency are desperate to showcase the dubious acts of the former Director and his appointees for sectional interests! They make it look like the corrupt cases at the NNPC are isolated. But that is not the case. The whole of this government is enmeshed and awash with kleptomania. Unleashing all these propaganda just to justify all the recent tribal appointments by the president into the NNPC is simply diversionary..

No one wants to fight corruption here, just fighting all obstacles against total "state capture"..

19 Likes 1 Share

veekid(m): 6:25am On May 03
God abeg
Karlifate: 6:25am On May 03
Power is neutral. 💯

Only (wo)men with weak strength of character allows the intoxication of power to corrupt them.


You can always determine a man's character depending on how he makes money.

The men who refuse to sacrifice character and integrity for money & fame are rare few that can be trusted. 💯

3 Likes

Mahenson: 6:26am On May 03
I when the charade of the refinery working was ongoing. Those of us with common sense saw through their scam.

Agbadorians and asslickers were all over the media space foolishly ranting. Even the communty where these refineries were situated said no activities were ongoing. So much audacity from Mele Kyari to have boldly decieved the nation. Just like the Nigerian Air project.

Honestly Tinubu is just an over hyped Buhari.

50 Likes 4 Shares

Tostic: 6:26am On May 03
Crazy things happening 😳

1 Like 1 Share

CJStarz: 6:27am On May 03
helinues:
Let them just refund the money. As the money is still available in the , it should be transferred to FG purse

The court process would eventually lead to a waste of time
The court gives the order for the to be frozen or money returned and also decides which punishment to mete out to the embezzlers.

They won't just return it and walk home free if that's what you are insinuating

2 Likes 1 Share

valuedammy(m): 6:29am On May 03
What's the way forward in this Country?

At the end of the day, the Culprit will be walking freely in the Cities of Nigeria, he will also use the money to contest for a Political post in the future.

We really need a massive hauling on the Leadership of this Country.

12 Likes 1 Share

MaziObinnaokija: 6:29am On May 03
sad
helinues: 6:29am On May 03
CJStarz:

The court gives the order for the to be frozen or money returned and also decides which punishment to mete out to the embezzlers.

They won't just return it and walk home free if that's what you are insinuating

They would bribe the court from the money. Is this the first money diverted case in Nigeria?

How much have Yahaya Bello refunded?

103 Likes 1 Share

frankson1(m): 6:30am On May 03
The reason they kicked and threatened and even, lovers of badnews were against the president when he brought in external body to take charge.


The refineries should be PRIVATISED or sold as SCRAPS

9 Likes 2 Shares

Antichristian2: 6:30am On May 03
Let him come and ṣalaye!

1 Like

showboy2301: 6:30am On May 03
And they will come out and pretend like nothing has happened, bunch of thieves

2 Likes

Lovelies1: 6:31am On May 03
owobokiri:
That former Managing Director of the NNPC and his lieutnants were obviously a very corrupt bunch, as has always been the case with almost all the crooks appointed to those positions since the 70s when one Muhammadu Buhari appointed as the inaugural MD, turned the place into a cesspit of corruption. The Petroleum ministry and the NNPC are the ultimate "come and chop" positions in Nigerias political appointments. That evil has since been normalised..

Problem with this report though is that it is starting to look like certain groups within the presidency are desperate to showcase the dubious acts of the former Director and his appointees for sectional interests! They make it look like the corrupt cases at the NNPC are isolated. But that is not the case. The whole of this government is enmeshed and awash with kleptomania. Unleashing all these propaganda just to justify all the recent tribal appointments by the president into the NNPC is simply diversionary..

No one wants to fight corruption here, just fighting all obstacles against total "state capture"..

That doesn't mean corruption should be allowed

1 Like

funshint(m): 6:32am On May 03
These people only believe in their importation business; importing fuel and selling it at high price to Nigerians. They can't run a refinery successfully; not even for a week!
Just look at the way they northernized that company; almost 90% of their staff are from the North?! I hope the new management conducts a review of the last recruitment exercise hurriedly done by Mele Kyari and his cabals. These people are highly incompetent to run a motorpark talkess of a critical infrastructures like refinery.

7 Likes 2 Shares

b0rn2fuck(m): 6:35am On May 03
oluwaseunamos33:
If no be greedy wey go kill you, tell me what are you doing with 80 billion?
them wan go spend ham for heaven after death, dem be mumu people , the money no be for earth

3 Likes 1 Share

Dogalmighty17: 6:36am On May 03
The Blackman has done it again. Shameful.

4 Likes 1 Share

frankson1(m): 6:38am On May 03
owobokiri:
That former Managing Director of the NNPC and his lieutnants were obviously a very corrupt bunch, as has always been the case with almost all the crooks appointed to those positions since the 70s when one Muhammadu Buhari appointed as the inaugural MD, turned the place into a cesspit of corruption. The Petroleum ministry and the NNPC are the ultimate "come and chop" positions in Nigerias political appointments. That evil has since been normalised..

Problem with this report though is that it is starting to look like certain groups within the presidency are desperate to showcase the dubious acts of the former Director and his appointees for sectional interests! They make it look like the corrupt cases at the NNPC are isolated. But that is not the case. The whole of this government is enmeshed and awash with kleptomania. Unleashing all these propaganda just to justify all the recent tribal appointments by the president into the NNPC is simply diversionary..

No one wants to fight corruption here, just fighting all obstacles against total "state capture"..




You've used 'ogogoro' to wash your mouth this early morning undecided

SHAME!!!

4 Likes

bandad: 6:39am On May 03
adenigga:



P’Harcourt, Warri, Kaduna refineries’ MDs arrested
Kyari, 13 senior ex-NNPCL officials face probe
Unless Nigeria adopt the Chinese style of killing corrupt officials, we will continue to remain undeveloped nation. But unfortunately, anyone who steals public funds is celebrated. This is a very sad reality of Nigerians.😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭😭



Source: https://punchng.com/$3bn-refinery-fraud-N80bn-found-in-sacked-MDs-bank-s
Finquas: 6:40am On May 03
For the first time I'd say this is small good news from APC government.. but let's see how far the probe will go..

2 Likes

okeyumez(m): 6:40am On May 03
The North sees NNPC and every government agencies and Parastatal as their personal company.
Despite all their lootings the poverty index in North is extremely high.
I always tell people to visit South East and see massive development initiated by the igbos not by FG
Igbos are not in this government and yet the poverty level there is low
Let them continue to steal monies meant for national development. The day of bloody revolution is coming

9 Likes

Tareq1105: 6:41am On May 03
oluwaseunamos33:
If no be greedy wey go kill you, tell me what are you doing with 80 billion?

He might be thinking of running for Governorship of his state.

It's all about greed.

Govt would take loans to fix the economy but some people would divert to their personal pockets and be deceiving Nigeria and Nigerians that the refineries are working.

After Nigerians would say it's Buhari, it's Tinubu. Our problem is lack of integrity. Do we expect Tinubu to combine NNPC CEO with his work? We're thieves without shame.

8 Likes 1 Share

ivandragon: 6:41am On May 03
Good.

The investigation should be all encoming.

1 Like 1 Share

(1) Reply)

APC Ward Congress: Okorocha Orders Arrest Of APC Officials

(Go Up)

Sections: How To . 101
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or s on Nairaland.