EFCC Recovers N5bn, $10m in Massive Refinery Turnaround Maintenance Fraud

The Economic and Financial Crimes Commission (EFCC) has recovered over ₦5 billion and $10 million from contractors and government officials linked to fraudulent activities in the controversial turnaround maintenance (TAM) of Nigeria’s refineries in Port Harcourt, Kaduna, and Warri.

Findings revealed that the anti-graft agency is also pursuing an additional ₦10 billion and $13 million allegedly siphoned through inflated contracts and questionable transactions in the rehabilitation projects.

EFCC Zeroes In on Fraudulent Payments

Sources within the EFCC confirmed that its Chairman, Ola Olukoyede, has personally taken charge of the probe. He reportedly expressed deep concern over Nigeria’s paralyzed refineries, despite decades of taxpayer-funded investments that have failed to deliver results.

A senior commission official, who requested anonymity, explained that successive administrations have funneled billions of dollars into TAM without any meaningful improvement in operations. Nigeria, Africa’s largest crude oil producer, continues to rely heavily on imported petroleum products.

Investigators are reviewing disbursements of $1.55 billion to the Port Harcourt refinery, $740.6 million to the Kaduna refinery, and $656.9 million to the Warri refinery. Initial findings uncovered widespread fraud involving over-invoicing, inflated contracts, and suspicious payments.

“The investigation into the turnaround maintenance of the nation’s refineries has yielded major discoveries of large-scale fraud. Former management teams of the three refineries were interrogated, and recoveries of $10 million and ₦5 billion have so far been made from contractors and officials linked to inflated contracts,” a senior EFCC source told BusinessDay.

The commission has also concluded probes into some officials of the Nigerian National Petroleum Company Limited (NNPCL) allegedly involved in the deals, with prosecutions expected in the coming months.

Industry Reactions

Energy experts say the recoveries underscore Nigeria’s entrenched corruption challenges in the oil and gas sector.

An oil and gas policy analyst, described the revelations as “a painful reminder of how much public wealth has been squandered.” He noted that the fraud not only undermined domestic refining capacity but also deepened Nigeria’s dependence on imported fuel.

“This is not just about stolen funds. It’s about decades of missed opportunities for energy independence and job creation. Every inflated contract meant fewer resources for real infrastructure and more hardship for ordinary Nigerians,” said.

While transparency advocate of the Centre for Accountability in Energy, member added that the case should mark a turning point.
“The EFCC must go beyond recovery. There must be high-profile convictions to deter future abuse. Nigerians need to see consequences, not just press statements,” said.

Billions Still at Stake

According to EFCC insiders, the agency is also chasing additional fraudulent contractor payments, including $13 million and ₦10 billion. Investigations into another $40 million linked to equipment procurement are ongoing, with both serving and former NNPCL officials under scrutiny.

Analysts say the outcome of the EFCC’s refinery probe could influence Nigeria’s broader energy reforms.

“If the government is serious about reviving local refining, transparency must come first. Without accountability, even the best policy initiatives—whether at Dangote Refinery or state-owned plants—will collapse under corruption,” warned, an energy economist.

A Long History of Failures

For decades, successive governments have committed billions of dollars to turnaround maintenance of Nigeria’s four refineries. Yet the facilities remain largely comatose, forcing the nation to spend heavily on fuel imports and subsidies.

The EFCC’s ongoing investigations, industry observers argue, represent one of the most significant attempts in recent years to hold powerful players in the oil sector accountable and a summarizing past failed TAM efforts since the 1990s (to give readers deeper historical context).