EFCC Recovers Over ₦5bn, $10m in Refinery Turnaround Maintenance Fraud
The Economic and Financial Crimes Commission (EFCC) has announced a major breakthrough in its investigation into the controversial refinery turnaround maintenance projects, recovering more than ₦5 billion and $10 million looted through inflated contracts and fraudulent payments.
According to findings, the anti-graft agency is also pursuing the recovery of an additional ₦10 billion and $13 million, traced to questionable transactions connected to the rehabilitation of Nigeria’s moribund refineries in Port Harcourt, Kaduna, and Warri.
Billions Spent, No Results
For decades, Nigeria’s refineries have been at the center of public outrage. Despite the billions of dollars pumped into turnaround maintenance (TAM), they have remained largely comatose, forcing Africa’s biggest oil producer to depend heavily on imported refined fuel.
Government records show that:
- $1.55 billion was earmarked for Port Harcourt Refinery,
- $740 million for Kaduna Refinery, and
- $656 million for Warri Refinery.
Yet, years later, none of these facilities is fully operational. The EFCC’s findings now explain why: inflated contracts, over-invoicing, ghost projects, and kickbacks that turned public investments into private fortunes.
EFCC’s Crackdown
The recovery was announced under the leadership of EFCC Chairman Ola Olukoyede, who has adopted a hands-on approach in pursuing high-profile corruption cases.
Sources within the commission revealed that investigators uncovered widespread collusion between some NNPCL officials and contractors handling the refinery projects. Payments were allegedly made for jobs either abandoned midway or never carried out, while procurement costs were inflated to create room for embezzlement.
Already, several suspects – including serving and former officials – have been invited for questioning, with EFCC confirming that prosecution will follow once investigations are complete.
The Bigger Picture
This recovery marks one of the largest single financial crackdowns under Olukoyede’s tenure and could signal a renewed seriousness in holding Nigeria’s oil industry accountable.
The implications are far-reaching:
- Economic Relief – Recovering these funds could strengthen government finances at a time when the country faces rising debt and economic strain.
- Public Trust – Nigerians have long demanded accountability for failed refinery projects. This move could rebuild some faith in the system.
- Energy Security – With the Dangote Refinery beginning operations, pressure mounts on government-owned refineries to justify decades of spending and deliver results.
What Comes Next
EFCC says it is determined to recover the remaining ₦10 billion and $13 million traced to the projects. There are also strong indications that more officials will be named and shamed, as public pressure grows for transparency in the oil sector.
Analysts argue that beyond recovery, the federal government must prioritize judicial convictions to deter future corruption in critical infrastructure projects. Without consequences, they warn, Nigeria risks repeating the same cycle of waste and fraud.
A Test Case for Reform
The refinery turnaround maintenance scandal has long been seen as a symbol of Nigeria’s governance failures. The EFCC’s latest recovery, however, offers a glimpse of accountability – one that could shape future reforms in the oil sector.
As Nigerians await the next steps, one question lingers: will this be just another recovery headline, or the beginning of real justice in the fight against corruption?
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