EFCC Investigates Alleged ₦60 Billion Financial Scandal At Delta Federal College
By GEORGETTE CHIDI
THE Economic and Financial Crimes Commission (EFCC) has reportedly commenced an investigation into alleged suspicious financial transactions exceeding ₦60 billion involving members of the management of the Federal College of Education (Technical), Asaba, Delta State.
The investigation reportedly followed a Federal High Court order issued in Asaba on 13 November 2025 by Justice F.A. Olubanjo. The judge directed relevant law enforcement agencies to investigate the allegations and prosecute anyone found culpable.
According to the petition, members of the college’s management allegedly used a Central Bank of Nigeria account designated for Federal Government transactions to conduct private business. The petitioner raised concerns over the possible diversion and misuse of public financial resources.
The alleged transactions reportedly began on 19 December 2023 at a property along Kilometre One, Asaba-Ibusa Road, within the Iyi Abi farmland in Umuonaje Quarters, Asaba.
The property reportedly belongs to the Community Head of Uti Edem Ojeada Village, who allegedly brought the activities to the attention of the relevant authorities. He also serves as the petitioner in the matter.
The community head reportedly confirmed that the EFCC had begun investigating the transactions following the court’s directive.
Meanwhile, the allegations have raised questions about the ownership, control and utilisation of funds allegedly processed through an account meant for Federal Government financial operations.
The report also stated that the Inspector-General of Police had directed that anyone found culpable should face prosecution before a court of competent jurisdiction.
However, the allegations remain subject to investigation and judicial determination. No individual has been established as guilty based on the information contained in the report.
