Nigeria, June 26 -- A former Chief Finance Officer (CFO) of the Nigeria National Petroleum Company Limited (NNPC Ltd), Umar Ajiya Isa, has denied reports of his arrest by the Economic and Financial Crimes Commission (EFCC) over an alleged $7.2 billion fraud.

In a statement on Wednesday, Mr Isa said he voluntarily submitted himself to the EFCC for questioning and was not arrested or detained.

PREMIUM TIMES, on Monday, learnt from the commission's officials briefed on the development, that Mr Isa was arrested in connection with alleged $7.2 billion fraud associated with the rehabilitation of the Kaduna, Warri and Port Harcourt refineries.

The three refineries have underperformed and recorded zero production over the years despite annual ...