EFCC Detains 4 Over Obasanjo’s $16b Power Projects

The Economic and Financial Crimes Commission (EFCC) has detained four persons in relation to its investigation of the$16 billion power projects under the President Olusegun Obasanjo regime.

Naija News learnt that the two top officials of the Niger Delta Power Holding Company (NDPHC), the company which supervised the execution of the project were among the four persons detained by the anti-graft agency.

The arrests signaled the beginning of the probe of the humongous expenditure during the Obasanjo presidency, with little results to show.

The NDPHC officials arrested are the 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.

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.

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.