Two top officials of the Niger Delta Power Holding Company (NDPHC), the company which supervised execution of the $16 billion Obasanjo power projects, have been arrested by the EFCC.

They were among the four persons detained by the anti-graft agency on Wednesday. The arrests signaled the beginning of the probe of the humongous expenditure during the Obasanjo presidency, with little results to show.

The NDPHC officials arrested are the Head of Finance Marvel Emefiele and Head of Compensation Eze M. C. Odigbo, The Nation Reported. They are expected to account for the N850 million earmarked as compensation to communities where components of the power project were sited, Others in EFCC’s net are Managing Director of Pivot Engineering Mr. Richard Ayibiowu and the Managing Director of Chris Ejik Nigeria Limited Mr. Christain Ejik Imoka.

Detectives are on the trail 18 more suspects including two former governors, a former chairman of a bank and a former chairman of an airline. About 15 more companies are also on the EFCC radar, it was learnt last night. There are fears that some of the suspects might have secretly relocated abroad.

See more here; http://gistmore.com/efcc-arrests-4-over-obasanjos-16b-power-projects

Better..$16 billion went straight to down drained.

If only dis isn't jus anoda usual EFCC noise making dat would end in d media... Dey have so much ruined their reputation and integrity dat one doesn't expect much from dem anymore...

I heard buhari stole more than that as a petroleum minister

Yawa Don kas