The Economic and Financial Crimes Commission (EFCC) has begun a probe into the $16 billion allegedly spent on power projects during the government of former President Olusegun Obasanjo.
Obasanjo had declared readiness to be probed after President Muhammadu Buhari alleged that he mismanaged the money.
The EFCC 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 the persons recommended for investigation by a committee of the House of Representatives.
“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,” a source told The Nation.
“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.”
In addition, the source said, “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.”
