Nigeria’s Economic and Financial Crimes Commission (EFCC) has arrested a former CFO of the Nigerian National Petroleum Co. Ltd (NNPCL), as well as a former managing director of 125,000 barrels per day (bpd) Warri refinery on June 23, according to the Premium Times.

Umar Ajiya Isa (NNPCL) and Jimoh Olasunkanmi (Warri) were arrested for alleged $7.2bn fraud connected with the rehabilitation of 110,000 bpd Kaduna, Warri and 210,000 bpd Port Harcourt refineries – with all three of the plants having continuously recorded barely any production numbers and underperformed since their rehabilitation, despite the consistent allocation of funds for annual turnaround maintenance.

As acting CFO for the NNPCL, Isa was responsible for the release of funds for the turnaround maintenance of the three plants, according to the Premium Times.

Numerous sources have reported that an additional three officials as well as others involved in NNPCL projects are also being investigated for alleged corruption, diversion of funds, abuse of office and receiving illicit payments from contractors.

Other officials also under investigation include another former managing director of Warri Tunde Bakare, former managing director of Port Harcourt Ahmed Adamu Dikko and an additional former managing director at Port Harcourt, Ibrahim Monday Onoja.

The EFCC’s investigation into alleged abuse of office an misappropriation of funds was initially launched in May, and was aimed at numerous high-profile NNPCL executives including its most recent group chief executive officer Mele Kyari and his predecessor Abubakar Yar’Adua.

According to a report released by the commission on April 28 to current management at the NNPCL, the group is investigating the loss of more than $2.9bn approved for the rehabilitation of Nigeria’s three state-owned domestic refineries.

As part of the investigation, salary and allowance records for 14 current and former senior executives were requested, according to Premium Times, which included Yar’Adua, Kyari, Onoja, former managing director at Kaduna Mustafa Sugungun, and former director at Warri Efifia Chu.

The missing funds make up part of the $1.56bn allocated to Port Harcourt, $740.6mn put aside for Kaduna, and $656.9mn for Warri as part of Nigeria’s long running rehabilitation project.

Since the start of the investigation, numerous NNPCL officials have either retired or been replaced by President Bola Tinubu – who appointed a brand-new board and management team led by Bayo Ojulari and Ahmadu Kida.

An earlier report by Punch revealed that investigators had allegedly found NGN80bn ($51.6mn) in the personal accounts of one of the previous managing directors.