Jide Omokore, business associate of ex-minister of Petroleum, Diezani Madueke has been arrested by the Economic and Financial Crimes Commission (EFCC).

Omokore is being investigated by the EFCC on allegations of money laundering and conspiracy to siphon billions of naira in fraudulent oil industry contracts while Diezani Alison-Madueke was minister.

EFCC sources, who asked for anonymity, said Omokore allegedly used his companies to facilitate bogus oil swap deals that cost the country billions of naira.

The sources also said Omokore had in the past been invited several times to the EFCC head office and questioned as part of ongoing-investigations of corruption in the Oil sector.

It was gathered that Omokore was still being detained at the head office of the anti graft agency as at yesterday evening.

EFCC sources also noted that the commission conducted simultaneous searches on Omokore’s houses in Lagos and the house of the former minister in Abuja, as she was being questioned in England.

Sources also confirmed that officials from the United Kingdom National Crime Agency are presently in Nigeria actively collaborating with EFCC operatives on the ongoing probe of the Oil sector.

Omokore’s arrest is said to be a follow up to the recent arrest of Diezani by the United Kingdom’s National Crime Agency on Friday over corruption allegations.

The agency arrested Mrs Madueke along with four others who were questioned and freed on bail.