Edwin Clark, an elder statesman and Ijaw leader, has accused Delta State’s immediate past governor, Ifeanyi Okowa, of misappropriating the state’s derivative fund worth N1.760 trillion.
Clark said in his appeal to the Economic and Financial Crimes Commission (EFCC) that Okowa was involved in the flotation of Premium Bank, which he reportedly utilized to deposit all derivation cash.
In an interview with Arise News on Wednesday, the convener of the Pan-Niger Delta Forum (PANDEF) claimed that the previous governor utilized part of the derivation funds to build a university in his community and also invested the funds in his 13 enterprises.
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He further stated that Okowa disbanded the Delta State Oil Producing Areas Development Commission (DESOPADEC), which was designed to oversee a 13 percent stake in the Delta state oil producing areas.
He said: “Okowa said he had been spending the money. Their answer was that they spent N5 billion on paying pensioners. How does that come under 13 percent?
“And they also spent the money building a university in Okowa’s village. I mentioned in the letter [to the EFCC] that Okowa has 13 companies. I told him he put the 13 percent (derivation funds) into these 13 companies and let him deny it.
“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.
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“So, Okowa has embezzled our money. It’s not even accounted for in his annual budget.”
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