The ongoing investigation by the Economic and Financial Crimes Commission regarding the rehabilitation projects of refineries in Nigeria has led to increased confusion rather than providing clear answers. I have been closely observing the renovations of the Port Harcourt and Warri refineries from the beginning, and I find it troubling that Mr. Dapo Segun, who is currently the Chief Financial Officer of the Nigerian National Petroleum Company Limited (NNPCL), is not included on the EFCC’s list of those being investigated. In a letter dated April 28, 2025, the EFCC revealed its investigation into possible misconduct and mismanagement of funds associated with the refineries’ repairs. The commission asked for official certified documents and records related to several current and past officials who had important roles in these projects. The list featured ex-Group Chief Executive Officer Mele Kyari, previous Managing Directors of the Port Harcourt and Kaduna refineries, along with various high-ranking officials from NNPC. However, Mr. Dapo Segun’s name is notably absent. At that time, he was definitely not an insignificant character. In his role as Executive Vice President of the downstream division, he had direct oversight of refinery operations, shipping, trading, and treasury—all aspects currently being investigated. The Neglected Key Player. At that time, Mr. Segun was situated at the center of the activities currently under investigation. He supervised departments that are currently being examined and handled dealings that are allegedly of interest to investigators.
