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

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By Glam & Essence

Two top officials of the Niger Delta Power Holding Company (NDPHC), the company which supervised the execution of the $16 billion Obasanjo power projects, have been arrested by the EFCC.
They were among the four persons detained by the anti-graft agency on Wednesday.
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, 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 arrested by EFCC are the 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 of 18 more suspects including two former governors, a former chairman of a bank and a former chairman of an airline.
It was gathered that about 15 more companies are also presently on the EFCC radar.
There are fears that some of the suspects might have secretly relocated abroad.
(Source The Nation)

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