Okowa Diverted ₦‎1.7 Trillion State Fund To His Companies – Edwin Clark

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(News investigators) The Convener, Pan-Niger Delta Forum (PANDEF), Edwin Clark, has accused former governor of Delta, Ifeanyi Okowa, of diverting over N1.7 trillion derivation fund meant for the state.

Clark, in an interview on Wednesday, said the former governor “autocratically mismanaged the funds” meant for the development of Delta state.

Recall that the 13 percent derivation fund comes from the federation account to oil-producing communities through state governments as contained in line with section 162 (2) of the 1999 Constitution of the Federal Republic of Nigeria (as amended).

Clark alleged that Okowa has 13 companies adding that he diverted the 13 percent (derivation funds) into his 13 firms while sidelining the Delta State Oil Producing Areas Development Commission.

His words: “The one paid to Delta state came to N1.767 trillion. Instead of paying 50 percent (of the N1.760 trillion) to the DESOPADEC as provided by the law, which is automatic, he now held the 13 percent fund — the entire money, dishing out instalmentally and approving every contract the DESOPADEC had awarded.

“So, Okowa has embezzled our money. It’s not even accounted for in his annual budget.”

Clark, however, disclosed that he has written to the Economic and Financial Crimes Commission (EFCC) to investigate the matter.

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