The Economic and Financial Crimes Commission (EFCC) has been called to investigate former Akwa Ibom State Governor, Udom Emmanuel, amid serious allegations of corruption involving an alleged misappropriation of over N1.5 trillion. The petition, submitted by the Network Against Corruption and Trafficking Initiative (NACAT) on January 20, 2025, claims the former governor’s eight-year tenure in office was marred by large-scale mismanagement and fraudulent activities.
The petition, signed by NACAT’s Executive Director of Investigation, Fejiro Tega, and Operation Manager, Stanley Ugabe, accuses Emmanuel of diverting funds meant for public welfare, squandering state resources, and engaging in reckless financial dealings. The anti-corruption group’s findings, based on meticulous audits and financial records, reveal a troubling pattern of corruption, including the alleged siphoning of public funds and the construction of non-functional infrastructure.
“We Cannot Ignore This Corruption”
In their petition to the EFCC, NACAT emphasized that they could not stand by while such alleged large-scale corruption went unpunished. “As a leading anti-corruption group in Nigeria, we would be failing in our duties if we ignore the wanton corruption and embezzlement of public funds under Udom Emmanuel’s watch,” said Fejiro Tega during an exclusive interview with reporters.
NACAT’s claims are supported by an extensive review of Akwa Ibom’s financial records, which they argue paints a clear picture of embezzlement. The group highlights that, despite more than N3 trillion flowing into the state’s coffers during Emmanuel’s tenure, a staggering sum of N700 billion remains unaccounted for. “This is the sort of financial recklessness that demands immediate action from the EFCC,” Tega added.
The petition also accuses Emmanuel of leaving behind a state burdened with over N500 billion in debt, alongside ongoing projects worth over N300 billion that remain unfinished. “Many of these abandoned projects were originally meant to improve the lives of Akwa Ibom residents, but instead, they stand as monuments to financial mismanagement,” said NACAT.
Security Votes and Contractual Malfeasance
Among the most damning allegations is the alleged misuse of security votes. NACAT claims that over N4.5 billion was withdrawn within a six-month period and fraudulently claimed to have been used for security purposes. Further investigations suggest that more than N10 billion was spent on security in 2018 alone, with no clear evidence of the funds being used for their intended purpose.
Additionally, the group accuses Emmanuel of awarding government contracts to firms with close ties to his allies. This, they argue, allowed the former governor to funnel public funds into private pockets, a claim further supported by the discovery of shell companies allegedly linked to Emmanuel’s family members.
The Ghost Industries Scandal
A particularly alarming allegation revolves around Emmanuel’s purported expenditure on 31 industrial projects, which the group claims cost over N100 billion. According to NACAT, these industrial ventures were largely phantom projects, with only four industries seeing any construction before ultimately failing. The incomplete or abandoned projects are said to have been built on the back of inflated contracts and fraudulent claims, leading to significant financial losses for the state.
“The former governor spent a staggering N100 billion on industries that never materialized. The only real ‘projects’ completed were his personal properties, including a N3 billion mansion in Ikoyi,” NACAT claimed. In addition to these unfinished industries, the group also points to the failed Greenwell Technologies Limited project, which they allege was a front for money laundering.
Property Accusations and Foreign Accounts
One of the most eye-catching claims revolves around the purchase of properties overseas. NACAT alleges that Emmanuel used his wife as a front to acquire a $580,000 property in the United States, located at 3939 Manor House, Charlotte, North Carolina. This, they argue, is part of a broader pattern of embezzling public funds and hiding them abroad.
Additionally, the group alleges that Emmanuel used the New Dawn Microfinance Bank in Uyo, Akwa Ibom, as a conduit for money laundering, claiming it served as a “warehouse” for illicit funds funneled through government accounts.
“We have reason to believe that the former governor is not only behind these suspicious transactions but also deeply involved in the ownership of certain financial institutions, including Globus Bank and New Dawn Microfinance Bank,” NACAT said.
Reactions and Denials
In response to the allegations, Udom Emmanuel’s media aide, Stephen Abia, dismissed the claims as unfounded and malicious. He labeled the petition as a “political hit job” orchestrated by enemies of the former governor. “This is baseless, and those behind these allegations have no credibility. Records are available to prove that Udom Emmanuel served Akwa Ibom State with the highest level of integrity,” Abia stated during a press conference.
Abia further criticized NACAT for making what he called frivolous claims and asserted that Emmanuel’s legacy as governor was marked by transparency and progress. “The petition is nothing but trash and should be discarded,” he added.
The EFCC, for its part, has confirmed receiving the petition and is reportedly reviewing the claims. Spokesperson Dele Oyewale acknowledged the submission, stating that the commission would act in accordance with its mandate to investigate financial crimes. However, he declined to comment further on the specifics of the case.