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EFCC Detains Former Governor Of Delta State Ifeanyi Okowa

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Operatives of the Economic and Financial Crimes Commission (EFCC) have detained a former governor of Delta State, Ifeanyi Okowa, for the alleged diversion of N1.3 trillion of the 13 percent derivation fund from the Federation Account between 2015 and 2023.

A source close to proceedings says that Mr Okowa was detained on Monday, 4 November, in Port Harcourt, Rivers State, when he reported at the Port Harcourt Directorate of the EFCC on the invitation of investigators handling his matter.

The former governor allegedly failed to account for the funds and another N40 billion he allegedly claimed to have used to acquire shares in the UTM Floating Liquefied Natural Gas.

Mr Okowa allegedly bought N40 billion worth of shares in one of the major banks in Nigeria, representing eight percent equity, to float the offshore LNG.

The funds were allegedly used for other purposes. The anti-graft agency is also investigating the former governor’s alleged diversion of funds to acquire estates in the nation’s capital, Abuja, and Asaba in Delta State.

He is being held at the EFCC holding facility in Port Harcourt.When contacted on Monday evening, the EFCC spokesperson, Dele Oyewale, confirmed Mr Okowa’s detention but declined to give details.

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Ex-AGF Malami, who is on trial for ₦8.7 billion fraud, emerges ADC governorship candidate in Kebbi state

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Former AGF Abubakar Malami emerges as ADC governorship candidate in Kebbi State ahead of the 2027 election amid ongoing controversy over alleged ₦8.7 billion fraud claims.

Former Attorney-General of the Federation and Minister of Justice, Abubakar Malami, has emerged as the African Democratic Congress (ADC) governorship candidate for Kebbi State ahead of the 2027 general election, despite ongoing corruption allegations linked to an alleged ₦8.7 billion fraud case.

Malami, who recently dumped the ruling All Progressives Congress (APC) for the African Democratic Congress, was affirmed as the party’s consensus candidate during consultations held by ADC stakeholders in Kebbi State.

The development was announced in a statement released on Sunday by his Special Assistant on Media, Mohammed Bello Doka.

In the statement, Malami expressed appreciation to party leaders and supporters for backing his ambition ahead of the 2027 governorship race.

I sincerely appreciate the confidence and support shown by leaders, stakeholders, and supporters of the African Democratic Congress in Kebbi State ahead of the 2027 general elections,” Malami said.

The former AGF also confirmed that the party agreed on candidates for key elective positions in the state through consensus arrangements.

According to the statement, “ADC Governorship Candidate for Kebbi State — Dr Abubakar Malami SAN,” while retired Major General Aminu Bande emerged as the party’s senatorial candidate for Kebbi Central.

The party also picked retired Deputy Comptroller General Ibrahim Muhammad Mera for Kebbi North Senatorial District and Garba Danjuma Limi for Kebbi South.

Malami said the ADC was focused on delivering “purposeful leadership, good governance, justice, security, and sustainable development for Kebbi State and Nigeria as a whole.”

He further stated that “together, with unity and determination, we shall build a more prosperous future for generations to come.”

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Governor Alex Otti unveils ₦1.3bn water projects in Abia

Abia State Governor Alex Otti flags off ₦1.3 billion Ubakala and Ariaria water scheme rehabilitation projects to improve access to clean water across Abia. Abia State Governor, Alex Otti, has officially flagged off the rehabilitation of the Ubakala Water Scheme and Ariaria Water Scheme in Aba, projects valued at ₦1.3 billion, as part of activities marking his administration’s third anniversary in office.

Speaking during the ceremony held at Ubakala in Umuahia South Local Government Area on Sunday, Otti said the projects are aimed at improving access to clean and safe water across Abia State, stressing that potable water remains one of the most important needs of the people.

The governor appreciated humanitarian organisation Mercy Corps for supporting the state government on the projects, noting that the intervention would make a major impact on residents once completed.

I want to thank them for this support and their resilience. N1.3 Billion is a lot of money and we cannot take it for granted. As we flag it off, we will assume that we have flagged-off the two projects. So, when we return here again, it will be for commissioning the water scheme,” Otti said.

He explained that both the Ubakala and Ariaria water schemes would be completed and commissioned together, adding that his administration considers water supply a top priority because of its direct connection to public health and economic development.

“Water is so critical to life and a lot of people have passed on because of unsafe water.”

“That is why this government has taken it as a critical project, one of her critical projects, to ensure that we have potable water across the State,” the governor added.

Otti also revealed that the Aba Regional Water Project has already reached about 95 per cent completion, another indication of the government’s push to revive water infrastructure in the commercial city.

The Commissioner for Power and Public Utilities, Ikechukwu Monday, said the projects are part of the broader Abia Integrated WASH Accelerated Programme earlier launched by the governor to improve water, sanitation and hygiene services across the state.

According to him, the projects had faced repeated delays in the past due to security and funding issues.

“This is the third time that the flag-off of these projects has been planned.

“The first time, we had a date, the financier was on their way to this place, and along Anambra, they were kidnapped. As you know, this project was initially financed by USAID through the Mercy Corps. The second one was in January last year.

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Nigeria remains the World Bank’s third-largest borrower with $18.5bn

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Nigeria remains the World Bank’s third-largest borrower, with $18.5bn in debt exposure, as fresh data show the country’s reliance on concessional loans continues to rise amid economic reforms and infrastructure funding needs.

Nigeria has remained the third-largest borrower from the World Bank’s International Development Association (IDA), with the country’s debt exposure now standing at $18.5 billion as of March 31, 2026.

Fresh figures contained in the IDA’s March 2026 financial statements showed that Nigeria’s exposure dropped slightly from the $18.7 billion recorded in December 2025, representing a decline of about $200 million within three months.

Even with the slight quarterly drop, Nigeria’s debt to the World Bank has continued to rise on a yearly basis. The latest figure is about $1.2 billion higher than the $17.3 billion exposure recorded in March 2025, showing a 6.9 per cent increase over one year.

The new ranking places Nigeria behind Bangladesh and Pakistan among countries with the highest borrowing from the World Bank’s concessional lending arm. According to the report, Bangladesh remained the largest borrower with $22.7 billion exposure, while Pakistan followed with $19.2 billion. Nigeria came third with $18.5 billion.

Nigeria alone accounts for around eight per cent of the institution’s total loan portfolio and roughly 13.3 per cent of the combined exposure of the IDA’s ten largest borrowers.

The report further showed that the 10 largest borrowing countries account for about 60 per cent of the World Bank’s concessional lending exposure globally.

Nigeria’s rising exposure highlights the country’s growing dependence on multilateral financing to support infrastructure projects, social programmes, economic reforms and budget support amid ongoing fiscal pressures.

The Federal Government is also in talks with the World Bank for another fresh loan facility valued at $1.25 billion. If approved, total World Bank loan approvals secured by Nigeria since President Bola Ahmed Tinubu assumed office in May 2023 could rise to around $10.6 billion.

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