In a groundbreaking operation, the Economic and Financial Crimes Commission (EFCC) has arrested several recently sacked managing directors and high-ranking officials from key Nigerian refineries, including the Port Harcourt, Warri, and Kaduna facilities. The arrests come amid shocking revelations of financial mismanagement, with over N80 billion discovered in the personal account of one of the dismissed managing directors.

The sweeping investigation targets an estimated total of $2.9 billion allocated for the rehabilitation of the country’s vital refining infrastructure, which has faced severe operational challenges in recent years. The EFCC is scrutinizing substantial sums earmarked for these refineries, including $1.5 billion for the Port Harcourt Refinery, $740 million for the Kaduna facility, and $656 million for the Warri Refinery.

Among those arrested is Mr. Ibrahim Onoja, the former Managing Director of the Port Harcourt Refining Company Ltd, and Efifia Chu, who formerly headed the Warri Refining and Petrochemical Company Ltd. High-level sources within the Nigerian National Petroleum Company Limited (NNPCL) confirmed to the PUNCH that the staggering amount of N80 billion was mysteriously located in the account of one of the sacked officials, raising urgent questions about transparency and accountability in managing public funds.

On Friday, a senior EFCC official, who requested anonymity due to the sensitive nature of the investigation, explained to the PUNCH, “We are delving into the funds allocated for the rehabilitation of all three refineries—money released in recent times. All principal officers within that timeframe are being invited for questioning. Some have already been detained, and we continue to seek others.”

As the public clamors for transparency and effective management of the state-owned refineries, the EFCC’s investigation highlights the dire need for accountability in a sector crucial to the Nigerian economy. The official further stated, “Nigerians deserve to see their refineries operational again. We need to ask: where is the money, and what has happened to the refineries?”

Further intensifying the scrutiny, documents obtained by the PUNCH from NNPCL stated that an investigation request dated April 28, 2025, named not only the former MDs but also implicated the immediate past Group Chief Executive Officer of NNPCL, Mele Kyari, along with 13 other previous senior executives accused of misappropriating funds.

In previous week, a significant wave of public discontent has erupted as over 5,000 protesters descended on the Office of the Attorney General of the Federation (AGF) in Abuja, demanding the immediate arrest of Mele Kyari. The demonstrations reflect the widespread frustration among citizens over the prolonged mismanagement of the nation’s oil resources and the escalating cost of living, further compounding the urgency of the EFCC's investigation.

As this story develops, it raises critical questions not only about the future of Nigeria’s refining capabilities but also about the integrity of those entrusted with managing the nation’s oil wealth. The EFCC's proactive measures signify a pivotal moment in the fight against corruption within Nigeria's critical energy sector.