$16bn Power Projects: EFCC Begins Probe of Suspects

$16bn Power Projects: EFCC Begins Probe of Suspects

The Economic and Financial Crimes Commission (EFCC) has begun preliminary moves to launch a probe into the controversy surrounding the $16 billion allegedly spent on power projects during the administration of former President Olusegun Obasanjo.

Sources close to the probe say the anti-graft agency may invite two ex-ministers, former top officials of the defunct Power Holding Company of Nigeria (PHCN), present and past officials of the Niger Delta Power Holding Company and all the people recommended for investigation by a committee of the House of Representatives.

The probe may also involve a forensic and comprehensive investigation into the alleged $16 billion power projects.

Though the probe was initiated after a dispute between President Muhammadu Buhari and ex-President Olusegun Obasanjo, a top source, who spoke in confidence, said the move was not targeted at the former leader, TheNation writes.

“We are looking into all the allegations and issues surrounding the power projects,” a top source said.

“We will conduct a comprehensive and forensic probe to ascertain the true status of all the projects.

“This investigation will actually ascertain how much has been spent so far.

“We have many figures being bandied about as follows: $16 billion, $13.278 billion, $10.3 billion, $8.4 billion and $8.55 billion.

“This is not an investigation aimed at ex-President Olusegun Obasanjo or anybody. We have to step in to set the records straight.

“Already, a team is collating facts and figures on these projects as part of the preliminary level/ bend of the investigation.”

Responding to a question, the source added: “We will retrieve the report of the House of Representatives Committee which investigated the power projects.

“The House actually recommended 18 top former public officers, including two ex-ministers, for investigation by anti-graft agencies, especially EFCC and ICPC.

“Many salient issues were raised for investigation by the House Committee, which was headed by Hon. Ndudi Elumelu.”