News
Obasanjo’s $16 Billion Power Project: EFCC Arrest Top Officials Of Niger Delta Power Holding Company
Top officials of the Niger Delta Power Holding Company (NDPHC), have been arrested by the Economic and Financial Crimes Commission (EFCC).
They were arrested for their role in the $16 bilion Obasanjo power project which was supervised and executed by the Niger Delta Power Holding Company (NDPHC).
On Wednesday, August 28, the anti-graft agency arrested the suspects marking the beginning of the probe of the humongous expenditure 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 the 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.
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