Activists Demand EFCC Interim Report on Alleged $4bn Refinery Fraud

|By Chinwendu Nwani

A civic coalition has demanded that the Economic and Financial Crimes Commission (EFCC) release an interim report on its ongoing probe into the alleged $4 billion fraud tied to Nigeria’s failed refinery rehabilitation projects.

The group, Concerned Nigerians for Transparency and Justice (CNTJ), in a statement signed by Comrade Obinna Francis and Adamu Musa, said Nigerians deserve an update six months after the anti-graft agency reportedly launched the investigation into the controversial Port Harcourt, Warri and Kaduna refinery projects.

CNTJ argued that the prolonged silence fuels suspicion, especially with the refineries still dormant despite repeated government commissioning ceremonies that promised an end to fuel imports. The coalition warned that the alleged mismanagement has deepened Nigeria’s economic crisis, with soaring fuel prices, higher transport costs and worsening inflation.

The activists claimed that the missing $4 billion — amounting to several trillions of naira — could have funded vital sectors like education, healthcare and infrastructure. They also referenced yet-to-be-confirmed allegations that $1 billion of the funds was diverted to finance the ruling All Progressives Congress (APC) 2023 election campaign, which, if true, would violate provisions of the Electoral Act 2022.

“Corruption, when left unchecked, undermines democracy and impoverishes millions of Nigerians,” CNTJ warned, stressing that the EFCC must clarify how much of the $4 billion was spent, who received it, and whether any money was laundered.

While commending the EFCC for initiating the probe, the coalition described the case as a litmus test of the commission’s commitment to transparency, citing the public outcry over the alleged diversion. It urged the agency to release a detailed interim report or hold a public briefing to sustain public trust.

“The controversy over the refinery rehabilitation fund cuts to the heart of Nigeria’s economic crisis,” CNTJ added. “If credible evidence of wrongdoing is established, those responsible must face trial without delay.”