The Economic and Financial Crimes Commission (EFCC) has arrested Umar Isa, a former Chief Financial Officer of the Nigerian National Petroleum Company Limited (NNPCL), in connection with an alleged $7.2 billion fraud linked to the rehabilitation of the Kaduna, Warri, and Port Harcourt refineries. Also detained is Jimoh Olasunkanmi, former Managing Director of the Warri Refinery.

The EFCC is probing other senior officials for alleged corruption, abuse of office, diversion of public funds, and kickbacks from refinery contractors. Those under investigation include Tunde Bakare, current MD of the Warri Refinery; Ahmed Dikko, former MD of the Port Harcourt Refinery; and his predecessor, Ibrahim Onoja.

The arrests follow revelations by the Senate Committee on Public Accounts, chaired by Senator Aliyu Wadada, which uncovered discrepancies involving trillions of naira in NNPCL’s audited financial statements, describing the findings as “mind-boggling and worrisome.”