• Wants Mele Kyari Prosecuted
By Abiola Olawale
The Economic and Financial Crimes Commission (EFCC) has reportedly made significant strides in unraveling an alleged multi-billion-naira fraud connected to the rehabilitation of Nigeria’s refineries. So far, the funds run into about N4.8 trillion going by current exchange rate differentials.
The New Diplomat reports that the development comes after a group under the platform of Ethnic Youth Leaders of Nigeria, alongside constitutional lawyers, filed a lawsuit against the Chief Financial Officer (CFO) of the Nigerian National Petroleum Company Limited (NNPCL), Dapo Segun, demanding that he be brought forward to face investigations.
Recall that Mr Dapo Segun was executive vice president in charge of downstream sector at theNNPCL, prior to his new role.
The lawsuit was lodged before a Federal High Court in Port Harcourt, Rivers, with the group seeking legal redress over alleged mismanagement of the Port Harcourt refinery maintenance and rehabilitation.
The lawsuit is coming at a time when officials of the EFCC have reportedly recovered over ₦5 billion and $10 million from implicated contractors, service providers, and former officials of the Nigerian National Petroleum Company Limited (NNPCL) in the alleged refinery scam.
The New Diplomat’s checks revealed that the anti-graft agency is now gearing up to prosecute several high-ranking former NNPCL officials as investigations deepen into what has been described as one of Africa’s most celebrated financial scandals in recent times.
The New Diplomat’s checks showed that the EFCC’s probe is anchored on the alleged mismanagement of funds allocated for the turnaround maintenance of Nigeria’s refineries in Port Harcourt, Kaduna, and Warri.
Recall that despite billions of dollars allegedly invested over decades, these facilities remain largely non-operational.
This was said to have prompted the EFCC to investigate how the investments were utilised.
According to Punch newspaper, quoting an insider source, the investigation has already exposed alleged fraudulent practices, including over-invoicing, contract inflation, and questionable payments, which have crippled the refineries’ functionality.
The source allegedly added that the agency has spotted disbursements of $1.56 billion for the Port Harcourt refinery, $740 million for Kaduna, and $656 million for Warri, uncovering evidence of alleged large-scale fraud that has left the nation’s oil sector in disarray.
The source was also quoted to have revealed that the investigation has zeroed in on former NNPCL management teams, with several officials already interrogated and facing imminent charges.
The source was quoted by Punch newspaper, as saying: “Our investigation into the turnaround maintenance of the nation’s refineries in Warri, Kaduna, and Port Harcourt has yielded major discoveries of large-scale fraud.
“Specifically, investigations flagged former management teams of the three refineries who were arrested several times and grilled to uncover fraudulent dealings that have not made the refineries deliver optimal benefits to Nigerians.
“A total sum of $10m and N5bn have so far been recovered from suspects indicted in the fraud. The recoveries were made from some contractors and government officials involved in over-invoicing and inflated payments.”
Meanwhile, in the lawsuit marked FHC/CS/157/2025, the group is seeking a court order to sack, arrest, investigate, and prosecute Segun, alleging that his tenure as the Executive Vice President Downstream at NNPCL saw the mismanagement of the refinery rehabilitation that cost Nigeria over N5trillion.
Counsel for the lawyers, M.O. Osuji, in the suit prayed the court to grant an order to mandate the EFCC to commence an investigation of the activities and role of Segun, in alleged connection with the acquisition of OVH Energy by the NNPCL and rehabilitation of the Port Harcourt and Warri Refineries.
Part of the suit reads: “An Interim Order of Court directing the 2nd Respondent (Dapo Segun) to forthwith step aside as the Chief Financial Officer of the Nigerian National Petroleum Company Limited and cease the performance of any duty pertaining thereto, tampering with or altering any documents or records material to the investigation into his conduct and/or role in the acquisition of the of OVH Energy by the ‘NNPCL and rehabilitation of the Port-Harcourt and Warri Refineries, pending the hearing and determination of the Substantive Motion on Notice for Judicial Review.
“An Order of Court granting Leave to the Applicant to serve the order granting leave to the Applicant, Motion on Notice for Judicial Review and any other process(es) in this Suit on the 2nd Defendant by substituted means to wit: delivering all the aforementioned court processes to the Legal Department of the Nigerian National Petroleum Company Limited at its head office at Central Business District, Abuja. An Order of Court directing an accelerated hearing and determination of this Suit.”
