Many heads may roll as the Economic and Financial Crimes Commission (EFCC) plans to go after more people allegedly linked with an investigation into the $16bn power projects awarded under the administration of former President Olusegun Obasanjo.
As part of the probe, the EFCC, last week detained two officials of the Niger Delta Power Holding Company (NDPHC).
The anti-graft agency has launched a probe into an alleged misappropriation of the funds running into trillions of naira after President Muhammadu Buhari gave a clue last year that the deal was going to be investigated.
President Buhari had given the EFCC the green light to probe the contracts following persistent complaints by Nigerians about insufficient power supply in the country after government had allegedly spent $16b.
Buhari had accused the former President Obasanjo administration of blowing $16bn on power. But Obasanjo replied that he was never indicted, saying: "The answer is simple; the power is in the seven National Integrated Power Projects and 18 gas turbines that Chief Obasanjo's successor, who originally made the allegation of $16bn did not clear from the ports for over a year, and the civil works done on the sites."
Speaking at the Federal Capital Territory's presidential rally of the All Progressives Congress (APC) in February this year, Buhari vowed that his administration would continue to ensure efficient utilisation of the nation's scarce resources in the provision of infrastructural facilities across the country.
He insisted that those involved in the wastage of over $16bn on power sector without any meaningful results under the previous administrations would be investigated and anyone found wanting would be prosecuted.
Buhari said: "You know there was no power under the previous administrations, and a previous government admitted, without anybody asking them, that they spent $16b on power. You know more than I do. Where is the power? Where is the money?"
Sources close to the anti-corruption agency confided in Daily Trust on Sunday that the commission would go all out to get all the people who had a hand in the alleged misappropriation of the funds in both the public and private sectors.
Sources said investigators were not ready to leave any stone unturned in trying to unmask the brains behind the $16b loss to the nation.
Individuals, no matter how highly placed, who would be found wanting by the probe, would be made to face the full wrath of the law, one of the sources said.
"Very soon, Nigerians will see more invitations and more arrests as the investigations deepen," he said, adding that, "More information have been gathered about the manner the power projects were managed," he said.
The EFCC is aiming at unmasking the actors in the controversial $16b power projects of the Federal Government. The huge amount covered investment into the whole power sector, which cuts across generation, transmission and distribution. The projects were actually handled by the NDPHC.
Most of the projects were allegedly allocated under the National Independent Power Projects under the Obasanjo administration.
It was learnt that top officials of the administration may be invited to shed light on their roles in various projects.
As part of its move to unravel the true position regarding the power sector fraud, operatives of the EFCC had detained two key officials of the NDPHC over their alleged involvement in the payment of N84b to the host communities.
Mr Marvel Emefiele, head of finance and Eze Odigbo, head of compensation of the NDPHC, were reportedly detained in connection with how huge public cash meant for the payment of compensation to many communities was handled.
The two key officials of the NDPHC were said to have been detained by the EFCC following their alleged involvement in bogus payment and diversion of about N850m compensation to communities where the components of the power project were sited.
Although approval was said to have been granted for the payment of N84bn to the communities where transmission lines of the power project were meant to be laid, a team of EFCC investigators reportedly discovered that the money was not paid to the benefiting communities after the huge sum was officially signed off from the books.
Also detained by the EFCC at the launch of investigation into the matter were the managing directors of two leading Nigerian engineering firms: Richard Ayibiowu and Mr. Richard Ayibiowu, while another chief executive of an engineering firm, Christian, Ejik Imoka, was also detained over a controversial payment for N500m contract.
Following the initial arrests by the EFCC, other key suspects implicated in the $16b power projects were said to have relocated abroad. But a source told Daily Trust on Sunday that the EFCC had sought the assistance of the International Police Organisation (INTERPOL) to go after the runaway suspects.
Those sought after for interrogation by the EFCC include some ex-officials of the NDPHC; technical committee and general project manager; a former managing director of the Power Holding Company of Nigeria (PHCN); ex-chief executive officer of the Transmission Company of Nigeria (TCN); an ex-head of transmission of the TCN and a businessman who was expected to supply nine gas turbines and auxiliaries at an alleged inflated cost of N185bn ($1.55bn).
https://www.bcnews.com.ng/2019/09/us16-billion-power-probe-many-heads-to.html

Rubbish........if any APC person involved na wash.