EFCC begins probe of Obasanjo govt’s $16bn power project

The Economic and Financial Crimes Commission (EFCC) has begun the probe of the $16 billion power project of the administration of former President Olusegun Obasanjo.

There had been conflicting figures on the exact cost of the project as some people put it at $16 billion while others say it is $13.8 billion.

It was gathered last night that the anti-graft agency may arrest key contractors involved in the power project scam which extended beyond the Obasanjo administration into those of former Presidents Umaru Yar’Adua and Goodluck Jonathan.

It was also learnt that about 18 top former and serving public officers, including two ex-ministers, may be questioned.

Also likely to be interrogated by the EFCC are some top officials of the Central Bank of Nigeria (CBN).

Preliminary investigation revealed that Rockson Engineering Limited got a chunk of the contracts worth about $2 billion.

The findings revealed that the transactions involving the firms implicated in the power contracts were characterised by absence of due diligence.

A reliable source in the anti-graft commission said a team of crack detectives had been put in place to interrogate the people involved in the scam.

 

 

– The Nation

About Delia Innoma

Delia Innoma is a prolific writer, promoter, artist manager with full professional proficiency in English, German and Igbo languages. She studied accounting and computer programming at the Institute of Management and Technology Enugu and Germany respectively. Delia is also a devoted mother of two and she founded the Diamond Celebrities Magazine. Her sense of responsibility and commitment to the Christian faith are essential forces driving her daily activities.

One Response to “EFCC begins probe of Obasanjo govt’s $16bn power project”

  1. This is long overdue. Nigeria was raped, and billions of dollars allegedly siphoned into private accounts, while the citizens continue to suffer from constant power interruptions. In addition, the failed Ajeokuta steel project during this period of time was also a hoax for embezzlement. Shameful!

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