The Economic and Financial Crimes Commission’s ongoing investigation into Nigeria’s refinery rehabilitation projects has generated more confusion than clarity. Having closely followed the Port Harcourt and Warri refinery overhauls from the outset, I find it both perplexing and concerning that Mr. Dapo Segun—now Chief Financial Officer of the Nigerian National Petroleum Company Limited (NNPCL)—is absent from the EFCC’s list of individuals under scrutiny.
In a letter dated April 28, 2025, the EFCC announced its probe into alleged abuse of office and misappropriation of funds related to the refineries’ rehabilitation. The commission requested certified documents and records concerning a number of current and former officials who played significant roles in these projects. The list included former Group Chief Executive Officer Mele Kyari, former Managing Directors of the Port Harcourt and Kaduna refineries, and several other NNPC senior executives.
Yet, Mr. Dapo Segun’s name is conspicuously missing. During the period in question, he was far from a peripheral figure. As Executive Vice President for the downstream division, he was directly responsible for refinery operations, shipping, trading, and treasury—all areas now under investigation.
The Overlooked Central Figure
Mr. Segun’s position at the time placed him at the core of the activities now being examined. He oversaw departments currently under scrutiny and managed transactions that reportedly interest investigators. Notably, he was in charge during a two-year period that saw the sale of off-spec by-products from the refineries to traditional institutions in the South West, including the Awujale and other regional leaders.
Civil society groups have raised alarms about this omission. John Ochacho, coordinator of the Nigeria Transparency Initiative, captured the growing public unease:
“How can the EFCC list almost everyone involved in the refinery process but leave out Dapo Segun, who was at the very centre? This casts doubt on the true intent of this investigation,” he stated.
This is not a minor oversight. It points to either a lack of thoroughness or, more troublingly, a deliberate exclusion. Conducting a credible investigation into refinery operations without including the executive who held overarching authority is simply not possible.
Rewarded, Not Reprimanded
What makes this situation even more troubling is that, while other executives were removed or reassigned during NNPC’s reforms, Mr. Segun was promoted. He now serves as Chief Financial Officer, a role with even broader oversight of the company’s finances—despite lacking a university degree and having qualified in accountancy only through an OND diploma earned at Kaduna Polytechnic.
Why was Mr. Segun treated differently? What information, influence, or leverage does he possess that shielded him from the fate of his colleagues? These are legitimate questions that demand transparent answers.
The OVH Acquisition Issue
Beyond his involvement with the refineries, Mr. Segun also played a pivotal role in NNPCL’s acquisition of OVH Energy—a deal touted as strategic but now facing questions about its pricing and alignment with NNPCL’s long-term goals. Once again, Mr. Segun was at the heart of the process.
Given his central roles in both the refinery rehabilitation and the OVH acquisition, it is hard to justify his exclusion from the EFCC’s investigation. This is not a call for condemnation without evidence, but for an impartial and comprehensive inquiry. Any probe that sidesteps key players is, by design, incomplete.
The Probe’s Credibility at Stake
Regrettably, the investigation is rapidly losing credibility. Civil society organisations have highlighted a series of misleading media reports about dramatic arrests and alleged discoveries of large sums—claims that have later proven false. Such distractions only make it harder for the public to discern the truth.
If the EFCC is not careful, it risks being seen as a vehicle for selective justice, swayed by political or corporate interests. The public is watching—not only to see who is being questioned, but also who is being protected.
A Matter of Integrity
Leaving Dapo Segun out of this investigation is more than a clerical error; it strikes at the heart of whether this probe is genuine or merely for show. If the goal is to restore public trust and ensure accountability in the management of national resources, then no one—regardless of their status or connections—should be exempt.
To achieve this, the EFCC must revisit its list and ensure that everyone with material responsibility during the refinery overhaul is thoroughly investigated. Anything less risks turning a necessary probe into a hollow exercise.
**About the Author**
Tajudeen Bukar is a public affairs analyst and industry observer who has tracked Nigeria’s refinery rehabilitation process for over a decade.
Tajudeen Bukar: Dapo Segun and the refinery probe: A name omitted, a process in question
