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Nigeria's Economic and Financial Crimes Commission (EFCC) has uncovered N80 billion in bank accounts linked to a sacked Managing Director of the Nigerian National Petroleum Company (NNPC) amid a $3 billion refinery fraud investigation.
The funds were allegedly siphoned through fake contracts and over-invoicing schemes involving the Port Harcourt Refining Company, Warri Refining and Petrochemical Company, and Kaduna Refining and Petrochemical Company.
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This revelation has sparked public outrage and calls for accountability in Nigeria's oil sector. The EFCC continues its investigation to recover stolen funds and prosecute those involved in the massive fraud.
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