Paul Nwabuikwu, a spokesperson to the ex-minister described such reports as misleading and untrue.
He said some media headlines were a misrepresentation of recent comments made by EFCC executives.
It was claimed an EFCC leader, in response to a question by All Progressives Congress member, Razak Atunwa, stated that Dr Okonjo-Iweala was under investigation.
“The actual words quoted in the same reports told a very different story,” Nwabuikwu added.
He called on the media to be ethical in their reports.
“The Nigerian media plays an important role in our democracy and we urge them to be fair, balanced and factual in their reports” said Nwabuikwu.