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Alleged $7.2bn fraud: Ex-NNPCL Finance Chief denies EFCC’s arrest

Freedom Online by Freedom Online
June 26, 2025
in Breaking News
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Umar Isa, former Chief Finance Officer (CFO), Nigeria National Petroleum Company Limited (NNPCL), has denied the claim of his Monday arrest by the EFCC over alleged fraud.

The former NNPCL CFO in a statement on Wednesday described his purported arrest over alleged $7.2 billion fraud by the Economic and Financial Crimes Commission (EFCC) as false.

Isa said contrary to reports, he voluntarily submitted himself to the commission, and at no time was he arrested in connection with the alleged 7.2 billion dollars relating to transactions at the Warri and Port Harcourt refineries.

Isa and three others were said to have been arrested by the EFCC over alleged fraud at the nation’s oil company on Monday in Abuja.

They were said to have been arrested in connection with an alleged 7.2 billion dollars fraud linked to the rehabilitation of the Kaduna, Warri, and Port Harcourt refineries.

“Nobody arrested me for any $7.2 billion in relation to any refinery fraud. I voluntarily submitted myself for questioning to the EFCC and thereafter I went home.

“To see in the media of stories of my arrest over fraud is unfortunate,” he stated.

He said that he served at NNPC Limited and he left with his integrity intact.

“Nobody has accused me of any fraud throughout my sojourn at the company. People who are pushing this false narrative of arrests and detention just want to tarnish my reputation,” he said.

Isa said he was ready at any time to defend his reputation and years of service at the NNPCL.

“I am in this country and any day and anytime the EFCC request me to appear before them, I will be present,” he said.

Tags: Alleged $7.2bn fraud: Ex-NNPCL Finance Chief denies EFCC’s arrest
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© 2026 Published by SWAAYA LIMITED, Plot 20, Block G, Scheme 1, Residential 3, OPIC Beachland Estate, Lagos/Ibadan Expressway, Lagos. Gabriel Akinadewo, MD/CEO 08023010222, 08094000056, 08052097814.