In a major anti-corruption operation, operatives of the Economic and Financial Crimes Commission (EFCC) have arrested Ifeanyi Okowa, former governor of Delta State, on allegations of misappropriating a staggering N1.3 trillion in state funds. The arrest reportedly took place on Monday, following extensive investigations into the handling of the 13% derivation fund, a federal allocation intended to support oil-producing states.

According to sources within the EFCC, Okowa is alleged to have diverted a significant portion of these funds, which were specifically earmarked to boost development and economic growth in oil-producing regions. The former governor’s tenure has come under intense scrutiny as investigators probe whether these resources were siphoned off for personal gain, depriving Delta State of much-needed infrastructure and social programs.

The 13% derivation fund is a crucial allocation aimed at addressing the unique environmental and developmental challenges faced by oil-producing states in Nigeria. If the allegations prove true, Okowa’s actions would represent one of the largest cases of fund misappropriation involving derivation funds in recent years, potentially setting a precedent for accountability in the misuse of state resources.