Nigeria’s anti-graft agency, the EFCC, says it has retrieved over ₦5 billion and $10 million looted from funds meant for the rehabilitation of the country’s refineries. Several former and serving officials of the NNPCL are now facing possible prosecution over the fraud.

Investigators discovered that allocations for the Warri, Kaduna, and Port Harcourt refineries were riddled with inflated contracts and suspicious payments. Despite years of huge spending, the plants remain dormant, forcing Nigeria to keep importing fuel.

Records show that more than $1.5 billion was released for Port Harcourt’s turnaround maintenance, $740 million for Kaduna, and $656 million for Warri. Yet, none of the facilities operate effectively.

EFCC chairman Ola Olukoyede reportedly took personal charge of the probe, angered by the country’s continued reliance on imports despite repeated “rehabilitation” projects. Sources at the commission confirmed that investigations into several refinery management teams have been concluded, with charges set to be filed soon.

So far, ₦5 billion and $10 million have been recovered from contractors and officials involved in the deals. The EFCC is also tracking an additional ₦10 billion and $13 million, while probing fresh allegations of a $40 million contract inflation scheme linked to refinery equipment procurement.

Although the EFCC’s spokesperson has yet to issue a public statement, insiders say the agency is determined to hold both past and present refinery managers accountable for the large-scale corruption that crippled Nigeria’s refining capacity.