The Economic and Financial Crimes Commission has seized the international passport of the former governor of Delta State, Ifeanyi Okowa.
Okowa was arrested by the anti-graft agency on November 4, 2024, over an alleged diversion of N1.3tn derivation fund.
The N1.3trn amounted to a 13 per cent derivation fund from the federation account between 2015 and 2023.
He was also accused of failing to render accounts of the funds as well as another N40bn he allegedly claimed he used to acquire shares in UTM Floating Liquefied Natural Gas.
Okowa also allegedly bought shares of N40bn in one of the major banks in the country, representing eight per cent equity to float the offshore LNG.
According to sources in the commission, Okowa was at the EFCC office in Port Harcourt, Rivers State and was subsequently arrested by officials of the commission.
A source privy to the matter but not permitted to speak with journalists said Okowa had been released since last week Wednesday, after meeting his bail conditions.
The source said one of the conditions was to submit his travel documents with the agency, pending the conclusion of the matter.
“Okowa is no longer in our custody. He was released last Wednesday after meeting his bail conditions, which include depositing his travel documents with the commission, pending the conclusion of our investigations of the allegations against him.
“The sum allegedly is too huge to take risks. And what we have done is not out of place. This is to prevent anyone under investigation from jumping the bail he/she had been granted,” he said.
Speaking on his trial, Okowa described the allegation that he misappropriated N1.3tn oil derivation funds while in office as laughable and totally false.
Speaking when he received the national leadership of Urhobo Progress Union, led by its President General, Chief Ese Owe, on a solidarity visit at his residence in Asaba, on Tuesday, Okowa said he was not worried by the EFCC invitation.
The former governor, who was speaking publicly on the issue for the first time since his return from honouring the EFCC invitation, said he was confident that he would come out clean.
In a statement signed by his Chief Press Secretary, Olisa Ifejika, the former governor disclosed that the petitioners were driven by mundane political considerations but asserted that he would continue to support Governor Sheriff Oborevwori to deliver on the mandate freely given to him by the Delta people.
