CSO to EFCC: Release interim report on refinery rehabilitation probe

The Concerned Nigerians for Transparency and Justice (CNTJ) has asked the Economic and Financial Crimes Commission (EFCC) to release an interim report on its investigation into the alleged $4 billion fraud linked to the rehabilitation of Nigeria’s moribund refineries.

In a letter addressed to Olanipekun Olukoyede, EFCC chairman, CNTJ, said months have passed since the probe began, noting that Nigerians deserve an update on the progress of the investigation and funds recovered.

The group outlined that transparency is imperative in light of Nigeria’s worsening economic crisis, citing public outrage over the failure of the Port Harcourt, Warri, and Kaduna refineries to produce petrol.

“We write as a civic coalition deeply invested in promoting accountability and protecting public resources. Corruption, when left unchecked, undermines democracy and impoverishes millions of Nigerians,” the letter reads.

“The controversy over the refinery rehabilitation fund cuts to the heart of Nigeria’s current economic crisis.

“At current exchange rates, the missing $4 billion translates into several trillions of naira — enough to finance substantial portions of the federal budget, pay down debts, and provide direct relief to millions of suffering families.

“The situation is doubly tragic because it compounds the hardships already facing ordinary Nigerians.

“We urge the EFCC to release an interim report, or at least a detailed public briefing, outlining the findings to date.

“Such a report should clarify how much of the $4 billion was disbursed, who received it, and what results have been achieved.”

The letter was signed by Obinna Francis and Adamu Musa, CNTJ’s convener and secretary, respectively.

Early this month, the EFCC grilled Mele Kyari, the erstwhile group chief executive officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, over alleged financial misappropriation.

The anti-graft agency is investigating Kyari over alleged financial misappropriation of funds for maintenance of the three state-owned refineries during his tenure.

An Abuja court had ordered a temporary freeze of four Jaiz Bank accounts linked to Kyari over alleged fraud.

President Bola Tinubu removed Kyari as NNPCL GCEO on April 2, citing the need for “enhanced operational efficiency, restored investor confidence, and a more commercially viable NNPC”.

As part of the overhaul, the president appointed Bayo Ojulari to replace Kyari as the new group CEO, and Ahmadu Musa Kida as NNPC’s new non-executive chairman, replacing Pius Akinyelure.

On June 24, the anti-graft agency arrested Umar Isa, a former chief financial officer (CFO) of the NNPC, in connection with an alleged $7.2 billion fraud connected to the rehabilitation of the Kaduna, Warri, and Port Harcourt refineries.