Home News No Respite As EFCC Intensifies Probe Into Obasanjo’s $16billion Power Project

No Respite As EFCC Intensifies Probe Into Obasanjo’s $16billion Power Project

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There is no let in the investigation by the Economic and Financial Crimes Commission (EFCC) to get at the root of the alleged disappearance of a whopping $16billion power project fund linked to former President, Olusegun Obasanjo.

The anti-graft agency, was said to have arrested two top officials of the Niger Delta Power Holding Company (NDPHC), the body set up to manage the project, meant to permanently cure the power problems the country has been facing for decades.

The Nation, repots that the Head of Finance, Marvel Emefiele; and Head of Compensation, Eze Odigbo, of the body, were picked up and detained on Wednesday, in connection with the project.

Particularly, the duo are said to be facing questions over N850 million earmarked as compensation to communities where components of the power project were sited.

Also detained included the Managing Director of Pivot Engineering, Richard Ayibiowu; and the Managing Director of Chris Ejik Nigeria Limited, Christain Imoka, according to the report, which indicated that about 15 more companies are also on the EFCC radar.

Also, about 18 more suspects including two former governors, a former chairman of a bank and a former chairman of an airline, are being trailed in connection to the projects.

President Muhammadu Buhari had ordered probe into the $16 billion earmarked for power projects which has not improved power challenges in the country.

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