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More people are getting involved as Economic and Financial Crime Commission (EFCC) is set to kick more heads of individuals and companies alleged to have participated in misappropriating the $16 billion power fund squandered by the former President Obasanjo administration.

Liked to the investigation were two officials of the Niger Delta Power Holding Company (NDPHC).


EFCC has concluded plan to unfold the misery that lead into misappropriating of $16 billion which is equivalent to trillions of Naira that vanish into thin air without a trace, having had a nod from President Buhari as part of his anti corruption crusade to unveil those involved.


President Buhari revealed that part of his campaign promise was an anti-corruption fight, therefore, his administration will use all legal means available to retrieve back the $16 billion to restore power that the citizens have been yearning for.


Buhari had accused the former President Obasanjo administration of misappropriating $16bn on power. However, Obasanjo argued that he was never indicted, saying: “The answer is simple; the power is in the seven National Integrated Power Projects and 18 gas turbines that Chief Obasanjo’s successor, who originally made the allegation of $16bn did not clear from the ports for over a year, and the civil works done on the sites.”


Speaking during the Federal Capital Territory’s presidential rally of the All Progressives Congress (APC) in February this year, Buhari vowed that his administration would continue to make judicious utilisation of the nation’s scarce resources in the provision of infrastructural facilities across the country.


In his statement, “You know there was no power under the previous administrations, and a previous government admitted, without anybody asking them, that they spent $16b on power. You know more than I do. Where is the power? Where is the money?”


Dailytrust reported on Sunday that the Commission would go out to clamp down on all those alleged to have had hand in the misappropriation of the said fund in both private and public sector.


In its statement, Individuals, no matter how highly placed they are, who would be found wanting by the probe, would be made to face the full wrath of the law.


“Very soon, Nigerians will witness more invitations and arrests by the commission as the investigations deepen,” he said, adding that, “More information have been gathered about the manner the power projects were managed, the statement added.

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