The Economic and Financial Crimes Commission (EFCC) will conduct a “comprehensive and forensic” probe” of the $16 billion allegedly spent on power projects when Olusegun Obasanjo was President.
President Muhammadu Buhari sparked renewed interest in power-sector expenditure during the Obasanjo years when he said earlier in the week that a former President spent $16billion on power yet there was nothing to show for it.
"Where is the power? Where is the power?" Buhari had repeatedly asked.
According to The Nation, a source at the Commission disclosed that those who would be invited include two ex-ministers, former top officials of the then Power Holding Company of Nigeria (PHCN), anyone recommended for investigation by a House of Representatives committee, and past and present officials of the Niger Delta Power Holding Company (NDPHC).
“We are looking into all the allegations and issues surrounding the power projects,” the paper quoted the source as saying.
“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. 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.”