The Economic and Financial Crimes Commission (EFCC) has recovered over N5 billion and $10 million from contractors and government officials indicted in the massive fraud linked to the turnaround maintenance of Nigeria’s refineries in Port Harcourt, Kaduna, and Warri, According to PUNCH reports.

Investigations revealed that another N10 billion and $13 million allegedly siphoned through inflated contracts and fraudulent payments are being traced for recovery.

According to top EFCC sources, the commission’s chairman, Ola Olukoyede, personally took charge of the probe due to his dissatisfaction with the persistent failure of the refineries despite decades of huge public expenditure.

Nigeria’s four refineries have been largely dormant for years, forcing the country to rely heavily on imported petroleum products, despite billions of dollars reportedly sunk into their rehabilitation. Records show that $1.55 billion was allocated to the Port Harcourt refinery, $740 million to Kaduna, and $656 million to Warri.

Sources disclosed that investigators uncovered widespread fraudulent practices, including over-invoicing, contract inflation, and questionable payments that crippled the refineries’ revival efforts.

Former and serving officials of the Nigerian National Petroleum Company Limited (NNPCL), as well as past management teams of the refineries, were repeatedly interrogated and may face prosecution soon.

“So far, $10 million and N5 billion have been recovered from contractors and government officials involved in inflated contracts. Additional sums of $13 million and N10 billion traced to similar fraudulent deals are also being pursued,” one source confirmed.

The EFCC is also investigating fresh allegations of contract inflation worth about $40 million, allegedly involving NNPCL officials and contractors engaged to procure equipment for the projects.

Although the EFCC’s spokesperson, Dele Oyewale, could not be reached for official comments, a senior official of the commission, who spoke on condition of anonymity, confirmed the recoveries.

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