Former NNPCL CFO Denies EFCC Arrest Over $7.2bn Refinery Deal
A former Chief Financial Officer (CFO) of the Nigerian National Petroleum Company Limited (NNPCL) has firmly denied reports suggesting he was arrested by the Economic and Financial Crimes Commission (EFCC) in connection with an alleged $7.2 billion refinery repair fraud.
The denial comes amid growing public interest in the EFCC’s ongoing investigations into alleged financial misappropriations tied to the controversial refinery rehabilitation deal. Several media outlets had earlier reported that the former NNPCL executive was among top officials arrested and interrogated by the anti-graft agency over discrepancies in the multi-billion-dollar contract.
In a statement released through his legal team, the former CFO described the reports as “false, misleading, and damaging to his reputation.” He insisted he has not been invited, arrested, or questioned by the EFCC in relation to any refinery-related transaction.
“I categorically deny being arrested by the EFCC or any other law enforcement agency regarding the $7.2 billion refinery project. These claims are entirely untrue and appear aimed at tarnishing my image and professional record,” the statement read.
The EFCC has so far not issued an official statement naming the individuals under investigation, though insiders say the probe is still at a sensitive stage and may result in further disclosures.
The $7.2bn deal in question has been under scrutiny following concerns over inflated costs, delayed timelines, and questionable procurement processes. With public trust in national oil reforms already fragile, the controversy has only deepened calls for transparency and accountability in the sector.
As the investigation unfolds, stakeholders await clarity from both the EFCC and NNPCL, while the former CFO maintains his innocence, urging the public not to be swayed by unverified reports.
