EFCC Begins Probe Of Obasanjo’s $16bn Power Project
Former President Olusegun Obasanjo (photo credit: AFP)

The Economic and Financial Crimes Commission (EFCC) has detained two top officials of the Niger Delta Power Holding Company (NDPHC), the company which supervised the execution of the $16 billion failed power projects under the administration of former President Olusegun Obasanjo.

Concise News gathered that the officials detained are Head of Finance Marvel Emefiele and Head of Compensation Eze M. C. Odigbo. They are expected to account for the N850 million earmarked as compensation to communities where components of the power project were sited

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The probe of the “investment” in the electricity sector, which some Nigerians described as a scam, came on the heels of President Muhammadu Buhari’s recent declaration that he would recover the money from all persons and organizations involved in the alleged scandal.

Others in 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.

Meanwhile, detectives are understood to be on the trail of 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 learned last night. There are fears that some of the suspects might have secretly relocated abroad.