JUST IN: Massive Jubilation In Otta Farm, As Olusegun Obasanjo Receives Some Great News, Damns President Muhammadu Buhari

By Amako Nneji May 26, 2018 11:38

JUST IN: Massive Jubilation In Otta Farm, As Olusegun Obasanjo Receives Some Great News, Damns President Muhammadu Buhari

Following representations made by some Civil Society Groups, the Economic and Financial Crimes Commission, EFCC, has set the machinery in motion, to probe the controversy surrounding the $16 billion, allegedly spent on power projects during the administration of former President, Olusegun Obasanjo.

The anti-graft Agency, may invite two former 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.

It was learnt that a team in the EFCC is already collating facts and figures about the probe.

However, a top source who spoke in confidence, revealed that the move was not targeted at ex-President Obasanjo.

According to findings, the EFCC might conduct a forensic and comprehensive investigation into the alleged $16 billion power projects.

The scope of the investigation includes the total cost of the projects, how much was withdrawn from the Excess Crude Account, ECA, the total number of contracts awarded, the extent of compliance with due process, and the status of the execution of all the projects.

The top source, who spoke in confidence stated: “We are looking into all the allegations and issues surrounding the power projects.

“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 the EFCC and ICPC.

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


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