Convener of the Pan-Niger Delta Forum (PANDEF), Edwin Clark, has accused the immediate past governor of Delta State, Ifeanyi Okowa, of misappropriating the state’s derivative fund amounting to N1.760 trillion.
In a shocking revelation, Edwin Clark, the respected statesman and leader of PANDEF, has accused the former governor of Delta State, Ifeanyi Okowa, of mismanaging the 13 percent oil derivation fund. Clark alleges that Okowa established Premium Bank and used it to lodge all the derivation funds. Speaking candidly in an interview, Clark stated that Okowa autocratically misused the funds and ignored the Delta State Oil Producing Areas Development Commission (DESOPADEC) – an agency established to manage the oil derivation fund to drive infrastructural development of the oil-producing communities in the State.
“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 alleged.
Clark expressed his disappointment, noting that Okowa “autocratically mismanaged the funds” and to its end, he had written to the Economic and Financial Crimes Commission (EFCC) over the malfeasance.
The respected statesman bewildered at the former governor’s actions asked,
“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?”
Clark lamented.
Furthermore, to compound the already existing problem, the former governor is also accused of funding his village’s university, building/maintaining 13 companies, and not providing the DESOPADEC with the required derivative funds.
It remains to be seen what will come out of Clark’s allegations, but it is clear that there is a rot in the governance of Delta State, and the people deserve answers. The post 13% Derivation: Edwin Clarks Writes EFCC Over Okowa’s Alleged N1.7 Trillion Misappropriation appeared first on Information Nigeria.
