The Economic and Financial Crimes Commission (EFCC) has seized the international passport of the former Governor of Delta State, Senator Ifeanyi Okowa.
Okowa was arrested by the anti-graft agency on November 4, 2024, for an alleged diversion of a whopping N1.3trillion derivation fund.
The N1.3trillion amounted to a 13 percent derivation fund from the federation account between 2015 and 2023.
He was also accused of failing to render accounts of the funds as well as another N40billion he allegedly claimed he used to acquire shares in UTM Floating Liquefied Natural Gas.
Okowa also allegedly bought shares of N40billion in one of the major banks in the country, representing eight per cent equity to float the offshore LNG.
According to sources in the commission, Okowa was at the EFCC office in Port Harcourt, Rivers State, and was subsequently arrested by officials of the commission.
A source privy to the matter but not permitted to speak with journalists said Okowa had been released since last week Wednesday, after meeting his bail conditions.
The source said one of the conditions was to submit his travel documents with the agency, pending the conclusion of the matter.
“Okowa is no longer in our custody. He was released last Wednesday after meeting his bail conditions, which include depositing his travel documents with the commission, pending the conclusion of our investigations of the allegations against him.
“The sum allegedly is too huge to take risks. And what we have done is not out of place. This is to prevent anyone under investigation from jumping the bail he/she had been granted,” he said.
EFCC’s spokesperson Dele Oyewale was not available for official reaction.
But Okowa has described as laughable, the allegation that he misappropriated N1.3trillion oil derivation funds while in office.