Tuesday, April 20, 2021

Nigeria: Corruption investigation deepens into U.S.$16 Billion Power Probe

-

Many heads may roll as the Economic and Financial Crimes Commission (EFCC) plans to go after more people allegedly linked with an investigation into the $16bn power projects awarded under the administration of former President Olusegun Obasanjo.

As part of the probe, the EFCC, last week detained two officials of the Niger Delta Power Holding Company (NDPHC).

The anti-graft agency has launched a probe into an alleged misappropriation of the funds running into trillions of naira after President Muhammadu Buhari gave a clue last year that the deal was going to be investigated.

- Advertisement -

President Buhari had given the EFCC the green light to probe the contracts following persistent complaints by Nigerians about insufficient power supply in the country after government had allegedly spent $16b.

Buhari had accused the former President Obasanjo administration of blowing $16bn on power. But Obasanjo replied that he was never indicted, saying:

“The answer is simple; the power is in the seven National Integrated Power Projects and 18 gas turbines that Chief Obasanjo’s successor, who originally made the allegation of $16bn did not clear from the ports for over a year, and the civil works done on the sites.”

Related: Nigeria: EFCC goes after looters in $16bn Power Probe

Nigeria: Corruption investigation deepens into U.S.$16 Billion Power Probe 1Speaking at the Federal Capital Territory’s presidential rally of the All Progressives Congress (APC) in February this year, Buhari vowed that his administration would continue to ensure efficient utilisation of the nation’s scarce resources in the provision of infrastructural facilities across the country.

He insisted that those involved in the wastage of over $16bn on power sector without any meaningful results under the previous administrations would be investigated and anyone found wanting would be prosecuted.

- Advertisement -
- Advertisement -

NEWSLETTER

Get our daily notification on the latest financial crimes news around the World

MUST READ

- Affiliate Products -

Advertisement
Advertisement

This Week

Enable Notifications    OK No thanks