…As ethnic youth leaders call for his probe
…Vow to occupy EFCC headquarters to drive home point
…Suit seeks  to bar him from holding any public office in Nigeria
In the last few weeks, former Executive Vice President, EVP Downstream, and current Chief Financial Officer (CFO) of the Nigerian National Petroleum Corporation Limited, NNPCL has been in the eye of the storm for allegations of corruption.
The allegations levelled against him include that as the man who supervised the refinery rehabilitation exercise as Executive Vice President, Downstream, as well as supervising NNPCs acquisition of OVH Energy, he ought to be the main focus of investigative searchlight.
In the midst of these allegations, a group, Ethnic Youth Leaders have vowed to occupy the headquarters of the Economic and Financial Crimes Commission, EFCC, in Abuja should those implicated in the ongoing investigation into the refineries be arraigned without the inclusion of Dapo Segun, The group expressed profound dismay over what they described as the shielding of Mr Seguncurrently serving as Chief Financial Officer, CFO, of NNPC Limitedwhile individuals from a particular region of the country are allegedly being targeted and harassed in connection with the refinery rehabilitation scandal under EFCC investigation.
In a statement issued by its coordinator, Mr Meliga Godwin, the coalition comprising youth leaders from various ethnic backgrounds voiced concern that Mr Segun, who previously held a key executive role directly overseeing downstream operations, has thus far been excluded from the probe.
They recalled recent reports of the EFCCs alleged detention of the former CFO of NNPC Limited, Mr Umar Ajiya Isa, in connection with a purported $7.2 billion fraud related to the rehabilitation of the nation’s refineries. While Mr Isa maintains that he voluntarily presented himself to the Commission, an EFCC official is reported to have confirmed his arrest in relation to the investigation.
Similarly, the former Managing Director of the Warri Refinery, Mr Jimoh Olasunkanmi, was reportedly apprehended by the EFCC. However, the group criticised the anti-graft agency for turning a blind eye to the significant role allegedly played by Mr Segun, who, in his capacity as EVP, Downstream, was directly responsible for refinery operations, shipping, trading, and treasury functions.
Furthermore, the EFCC has reportedly included in its probe several senior officials, predominantly from a specific region, including: the former Group Chief Executive Officer, GCEO, Mele Kyari; the former Managing Director of Port Harcourt Refining Company, PHRC, Ibrahim Onoja; and the former Managing Director of Kaduna Refining and Petrochemical Company, KRPC, Mustafa Sugungun.
Others named in the probe are: former Group Managing Director of NNPC, Abubakar YarAdua; former NNPC Group Executive Director, Finance & Services, Isiaka Abdulrazak; the former CFO of NNPC Limited, Umar Ajiya; and another former Managing Director of PHRC, Dikko Ahmed.
In light of reports that the EFCC is preparing to arraign suspects linked to the scandal, the Ethnic Youth Leaders have issued a stern warning: failure to include Mr Dapo Segun in the process will be met with nationwide resistance. The group stated that mobilisation is already underway across the country, and that they are prepared to stage a peaceful occupation of the EFCC headquarters should the former EVP whom they consider a key suspect be omitted from the list of those to be arraigned.
Also,
A federal capital territory, FCT, high court has approved the hearing of a suit seeking to compel the refund of over N140 billion allegedly linked to the acquisition of OVH Energy, owner and operator of the Oando branded retail service stations, by the Nigerian National Petroleum Company, NNPC, Limited.
The case, filed under public interest litigation by the Incorporated Trustees of Legal Defence Against Injustice Initiative, is marked CV/3104/2025.
The suit which lists Dapo Segun as the first defendant, while the Economic and Financial Crimes Commission, EFCC, and the Attorney General of the Federation, AGF, are joined as second and third defendants, is seeking to among other things, to determine whether Segun should be held personally liable to account for and refund $325.09 million (about N140.5 billion) allegedly spent on the OVH Energy acquisition..
They also asked the court if he should refund another N5 trillion said to have been disbursed for the rehabilitation of the Port Harcourt and Warri refineries, and is seeking a series of reliefs and orders, including a declaration that Segun is personally liable to refund the sums in question to the federal government.
The also seek for An order of this honourable court directing the 1st defendant to pay forthwith into the treasury of the federal government of Nigeria (through the 2nd and 3rd defendants) the total sum of $325.09 million (N140.559 billion).
The plaintiffs went further to seek for an order directing the EFCC and the AGF to prosecute Segun over his role in the transactions, and a perpetual injunction barring him from holding any public office in Nigeria.
While efforts to reach Dapo Segun for comments failed as at the time of filing this report, Ben Ekori, a social commentator and public affairs analyst, wrote in his piece, Dapo Segun And His Traducers: Plumbing The Limit Of Idiocy,
Clearly exonerated him of these allegations stating that, the refinery rehabilitation kicked off in August 2021 with an 18-month period to complete the first phase which is the Old Port Harcourt Refinery. By the time Segun was appointed EVP Downstream in September 2023, the first phase was almost winding down. Therefore, to accuse him of awarding the contract and supervising the rehabilitation of the refinery is nothing short of delusion.
The other alleged crime for which the group wants the EFCC to investigate Segun is the acquisition of OVH. This is yet another example of fishing for an excuse to demonize the CFO. The Forum of Forensic Investigation Lawyers once again failed to bring their skills to bear on their jobs as they did not know that the OVH acquisition was concluded in October 2022, almost a full year before Segun was appointed as EVP Downstream in September 2023.
