Following representations made by some civil society groups, the Economic and Financial Crimes Commission (EFCC) has set 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 ex-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.

A team in EFCC was already collating facts and figures at press time yesterday.

But a top source, who spoke in confidence, said the move was not targeted at ex-President Obasanjo.

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The scope of the investigation includes the total cost of the projects, how much was withdrawn from the Excess Crude Account (ECA), the total number of contracts awarded, the extent of compliance with due process and the status of the execution of all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

A top source, who spoke in confidence yesterday, said: “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 EFCC and ICPC.

“Many salient issues were raised for investigation by the House

Committee, which was headed by Hon. Ndudi Elumelu.”

The issues raised by the Elumelu Committee were as follows:

All NIPP payments were made without following due process

No meaningful progress was made in the execution of power contracts

Officials rushed to pay contractors in full even before engineering design for the projects have been completed and approved

NIPP contracts were not only overpriced in comparison with PHCN contracts, they were also wide off the mark

Widespread evidence of systematic over-scoping of projects in order to inflate costs both in PHCN and NIPP

NIPP Distribution EPC contracts were awarded at costs averaging about 10 times the norm when compared to PHCN contracts.

The Ndudi Elumelu Committee was put in place by the House on January 31, 2008 to look into how much was spent on power projects.

In its report, the committee said that about $13.278 billion was spent on power projects between 1999 and 2007.

The committee recommended termination of 13 contracts and review of 10 projects.

About 15 contracting and consulting companies were asked to be investigated by the appropriate agencies.

https://www.financialwatchngr.com/2018/05/26/efcc-begins-probe-of-suspects-in-obasanjos-16bn-electricity-deal/

Jail them all PMB, they loot all our commonwealth finish. Awon ole.

Useless Government....

Nigeria is in grave Danger.

A new Tyrant is in town, why did he not go after them before now??

If you dare criticise this government, you become a suspect of one crime or the other.

What a mockery...

Buhari the people's General,if you can jail this man called OBJ you have won war against corruption because Obasanjo is father of all polical thieves in Nigeria of today.

If Buhari wins 2019 election, many ppl will enter prison yard.

*“This is not an investigation aimed at ex-President Olusegun Obasanjo or anybody. We have to step in to set the records straight.*

simply put 'we are scared of OBJ, so he's exempted'


no one dares threaten baba

Obasanjo you looked for trouble


Dear BadBelle accusing Buhari of sending EFCC to disgrace OBJ

SERAP called for the Probe , Buhari only said where's the power


Obasanjo might not be directly involved with the fraud, but he should be reprimanded for not advocating for transparency and accountability and i am pretty sure that friends of his friends will be involved with this fraud , i also hope EFCC probes Haliburton, Shell , Malabu oil deal and every other international fraud perpetrated by the PDP

Let me start criticising this government maybe EFCC will come and investigate how I got 1,343 naira in my account

My sincere opinion about this,I don't have problem with the investigation. Though this government has made it widely known that they are fighting perceived opposition. Jonathan is keeping quite presently,lol.

Really, so no one should speak against the president for fear of not investigated by the EFCC

The hunter has now become the hunted.

EFCC Na Obj pet project

Good. Hope Obj now realizes how the best operates. It finally will eat everybody, including those feeding it

So Buhari now instructs Magu and his EFCC on whom to investigate?


Magu does not have a mind of his own to do his job unless micromanaged by the president, and you say EFCC is not a mere attack dog for the APC?


So much for the 'independence' of a so-called anti-corruption agency.
Like Ribadu before him, Magu will end up seeking asylum last last. We have seen how it all ended up for puppets like him.

This is going to be really really intresting. Buhari probing this power projects will be a great feather added to his anti corruption.
But come to think of it, obj was his ally in 2015 whom he went and received his anointing in OTA farms with other APC stalwarts, and all along they were cool until things fell apart because of his 2019 re-election bid.

When the going was good, he never remembered all these. So obviously this is all about perceived political enemies not about patriotism.

haryorbarmie83:
Jail them all PMB, they loot all our commonwealth finish. Awon ole.

No be lie but make Buhari himself give us light abeg

haryorbarmie83:
Jail them all PMB, they loot all our commonwealth finish. Awon ole.

Common wetin?

So Southern money is your commonwealth. Only a Southerner has the right to use that word.

Lugard thunda wey go fire you for that hell fire wey you dey ehh still dey practice.

Fuckyoumod:
Useless Government....

Nigeria is in grave Danger.

A new Tyrant is in town, why did he not go after them before now??

If you dare criticise this government, you become a suspect of one crime or the other.

What a mockery...

First they/FG "stopped paying" Otta Farm employees salary

And now see the speed them take open file for the $16b

I know say na packaging, very soon na money no loss you go hear ( Fela) but Obasanjo you see your life outside?

haryorbarmie83:
Jail them all PMB, they loot all our commonwealth finish. Awon ole.

ARE YOU RELATED TO ISHAQ AKINTOLA

SouthEastFacts:

Common wetin?

So Southern money is your commonwealth. Only a Southerner has the right to use that word.

Lugard thunda wey go fire you for that hell fire wey you dey ehh still dey practice.

Lugard is long gone. Stop blaming him already. Change what is not working.

gidson12:
Really, so no one should speak against the president for fear of not investigated by the EFCC

It is called change.

This was exactly what we wanted PMB to do from the begining, leave no stone unturned, no sacred cow, alas is coming a little bit late. Our mind is made up. Back To Daura.

OritaIbadan:
This was exactly what we wanted PMB to do from the begining, leave no stone unturned, no sacred cow, alas is coming a little bit late. Our mind is made up. Back To Daura.

You dey mind the useless leaders Nigeria is cursed with....?

Where is Maina with his loot? The moment Maina starts running his mouth...INTERPOL will be engaged to flush him out of his hiding place back to Naija..


Take this for your breakfast....


".....Since Gov. Joshua Dariye joined APC his trial with EFCC stopped like a train with a knocked engine. Since Gov. Orji Uzor Kalu joined APC his trial with EFCC suddenly got a new break pad. Since Gov. Sullivan Chime of Enugu joined APC his trial with EFCC developed a cataract Since Gov. Isa Yuguda joined APC his trial with EFCC suddenly developed hearing problems. Since Senator Musiliu Obanikoro joined APC his trial with the EFCC suddenly developed malaria. And Buhari is Mr. Integrity? God will punish some people soon and send them to hell fire..." FFK

Obanikoro is now being sent on presidential assignment...

Orji uzor kalu... now stroll into asorock

This is what Buhari should have started with....However Nigerians can now see he only goes after opposition....

So EFCC goes after anyone who goes after PMB ... that's rubbish na... Haba, mhen the new President entering has a lot of healing and cleaning to do...

Buhari has sunk this country, by I know God hasn't forgotten Nigeria....

This is a good move but wrong timing. Now obj spoke against the tyrant and he decided to unleash his attack dogs against him just to silence him.

When obj was supporting him to power and some of us were saying obj lacks the moral to endorse who to rule Nigeria, we were called names.

Well let' see how this will play out, expect more opposition to be silenced by this govt.

If this govt truly wants to fight corruption, the fight should start from within the Apc loyal to the president, anything short than that is simply witch hunting or silencing opposition.

We need a new breed outside the norm who is without greed to rescue this land from this beasts in power/ the present political class be it apc or pdp.

Adekdammy:
This is a good move but wrong timing. Now obj spoke against the tyrant and he decided to unleash his attack dogs against him just to silence him.

When obj was supporting him to power and some of us were saying obj lacks the moral to endorse who to rule Nigeria, we were called names.

If this govt truly wants to fight corruption, the fight should start from within the Apc loyal to the president, anything short than that is simply witch hunting or silencing opposition.

We need a new breed outside the norm who is without greed to rescue this land from this beasts in power/ the present political class be it apc or pdp.

Very correct sir.

SEASON FILM.......