Connect with us


Power Probe: EFCC Quizzes 50, Traces N1.5b Bribe Cash To NPDHC Chief

The Terrorist!



The Economic and Financial Crimes Commission (EFCC) has so far interrogated about 50 people as it revs up its probe of the alleged $9billion power project scandal, The Nation gathered last night.

Hello!! Have you heard about the deadly virus called Coronavirus? No? See What It Is & How To Prevent It Here. Also Stay Connected & Get Latest Updates On Coronavirus Here. Please be safe! We LOVE You.

Top on the list of the interrogees are contractors and top government officials including a Permanent Secretary, functionaries of the Niger Delta Power Holding Company (NDPHC) and those of the Transmission Company of Nigeria (TCN).

Fresh revelations from the probe paint a picture of how contractors and top officials of the NDPHC feasted on about $8.5billion spent on the power project.

Contractors are alleged to have collected huge cash upfront for some projects without doing anything while NDPHC officials hijacked funds meant for compensation to host communities of the projects.

The officials also took humongous bribe sums from many contractors which they allegedly paid into their personal accounts.

Already, the EFCC has traced about N1.5billion to the accounts of an official of NDPHC.
The suspect, who is currently hospitalized, was said to be in charge of paying the compensation which was eventually diverted.

The suspect, according to sources, prostrated before EFCC detectives, and opened up on the list of top directors that benefitted from the cash in his accounts
Although some of the NDPHC directors have retired, the EFCC is already going after them.
Besides, the EFCC has grilled officials of three of the four firms so far short listed for investigation on the matter.

The companies are Pivot Engineering Company Limited, Hiquado Limited and Chris-Ejik International Agencies Limited.

The EFCC has summoned the Chairman of Rockson Engineering Company Limited, Mr. Joseph Arumemi Ikhide, whose company got about $2billion of the votes for the power project with only about 40per cent job done.
Ikhide has written to the EFCC saying he has a cardiac challenge.

Investigation by our correspondent revealed that although the power probe started about 10 years ago, this is the first time the anti-graft commission has recorded a breakthrough.

Some of the shock findings by detectives border on alleged refurbishing of existing transmission lines after money has been collected for new ones; massive diversion of project funds; outright non-implementation of projects;
The intensity of the probe has made some government officials taking pre-emptive steps to resign or retire.

Some contractors have also volunteered to refund some funds.

A brief obtained by The Nation reads in part: “Based on project status report, we have so far closed in on four companies including Pivot Engineering Company Limited, Hiquado Limited, Chris-Ejik International Agencies Limited and Rockson Engineering Company Limited.

“As for Pivot Engineering Company Limited, it collected the following: N2, 636,660, 463.21 and $31.518, 868.15(Ihovbo Sub-station; N452, 935,050.58 and $5,588,738.16(Ihiala Line Bay Extension). On Ihovbo projects, out of five lots, it completed four remaining one. But at Ihiala axis, out of three projects, one was about 40% completed, another at 20%completion stage and the third at 0%.

“As for Chris-Ejik, it handled Obudu new Sub-Station with 35 % of the job done after being paid N1, 034,292,598.52 and $4,945,087.16. The company complained of Way Leave problem. The same company collected N500million for Lot Trx (Lekki-Ajah /Ota-Ogba-Papalanto. Nothing was done by our investigation but the onus is on the company to come up with proof

“Regarding Hiquado Limited, it executed Ikot Abasi new Sub-Station, Adiabo Sub-Station and Calabar Sub-Station. It got paid as follows: Ikot Abasi( N4,485,695,913.93 and $59,317,649.31) ; Adiabo( N893, 281,533.80 and $7, 811,597.26. The company did well in these two sub-stations. At Ikot Abasi, the company bought materials but could not use because of the existing lines. All the materials will be used.

“But for Calabar EPZ Sub-Station, the completion rate was at 35% because of erosion challenge. The materials were bought but the environmental challenge affected the project. Although these materials had been vandalized, Hiquado Limited has approached the NDPHC to refund the cost of the materials to the agency.”

The EFCC however said Rockson Engineering Company Limited, which received a huge chunk of power project cash (allegedly about $1.5b-$2b) has not gone beyond 30-40 % in the projects it won.

It said all attempts to interact with Chairman of Rockson Engineering Construction Limited, Mr. Joseph Arumemi Ikhide, has failed.

Ikhide’s last contact with the EFCC was on September 26th, 2019 through his lawyer, Mr. Babajide Koku (SAN) claiming that he is abroad for medical treatment.

Notwithstanding, the EFCC insisted that Rockson Engineering has to account for about $1.5billion to $2billion.

The agency’s brief said: “Rockson Engineering Company Limited was the only company awarded both power generation and transmission contracts.

“In respect of generation, the company collected these payments for gas turbines for the following plants: Egbema ( $146, 398,039.39 and N2,097,601,956.89); Gbarain($171,322,997,87 and N2,788, 607,806.23); Omoku ($184,365, 659.02) and N3, 009, 617,903.88); and Alaoji ($752, 940,405.97 and N1, 999, 208, 968.16). Altogether, Rockson has executed about 40% of the generation contracts.”

“Concerning transmission projects managed by Rockson Engineering, it was paid $24, 908, 235.85 and N6,126, 615,461. 05 for Owerri-Alaoji-Omoku-Egbema and Ihiala-Nnewi-Onitsha. All the jobs done were not up to 30%.

“From investigation, it was discovered that part of the cash paid to Rockson Engineering Company Limited was channeled to Rockson International, of which Ikhide is the chairman, to acquire aircraft for Arik Air which has been taken over by Assets Management Corporation of Nigeria (AMCON).”

As at press time, documents showed that the EFCC has been on the trail of Ikhide for interaction.

In a September 17, 2019 to Ikhide, EFCC said: “The commission is investigating a case in which the need to obtain certain clarifications from your organization becomes imperative.
“In view of the above, you are kindly requested to attend an interview with the undersigned, Abubakar Madaki.”

In a September 26, 2019 response to EFCC’s invitation, Ikhide through his counsel, Mr. Babajide Koku said: “We regret to advise that Sir Joseph Arumemi Ikhide is indisposed and currently undergoing medical treatment abroad as such unable to attend interview as stipulated in your letter.

“We have assured that Sir Joseph Arumemi Ikhide will be available to attend the interview as soon as he is well enough to do so.”

An attached letter from BUPA Cromwell Hospital in London said Ikhide was “presented with severe central chest pain and exertion shortness of breath. He has been advised to complete his cardiac investigation.”

The probe of the $16billion power projects had dominated the nation’s national discourse since 2006 until the EFCC team led by its Acting Chairman, Ibrahim Magu made a breakthrough in the last few weeks.

The anti-graft agency initially closed in on 20 suspects including two former governors and a former chairman of a bank.

But the number of those interrogated has risen to 50 with more high-profile Nigerians on EFCC’s radar.

The list is apart from about 17 companies whose roles in the power contracts will also be investigated.

But those in charge of the projects said only $8.58billion was actually allocated between 2005 and 2018.

The said the breakdown is as follows: $2.2billion from 2005- 2007; $600million in 2008; about $5.37b from 2010/2011 to date; $150m-$200m made available to NNPC by CBN; and about $80million for Ibom Plant.

The $8.58billion was allocated as follows:

*About $4.4billion—Power Plants (5,000MW at less than $1m per Megawatt

*About $2billion for Transmission Lines

*About $1.5billion for 350 distribution projects

*$600million -$700million for gas pipelines

*$80million loan from the Excess Crude Account (ECA) for Ibom Power Plant which resulted in an interest-free debenture.

Get More Stories Like This On: Facebook: @AllNaijaEntertainment, Twitter: @AllNaijaEntertainment
Reach us on WhatsApp via: +2348104471989

Don’t Miss!

Join "ANE sabi" clique

Don't miss a thing, get ogbonge ANE latest updates to fuel your conversation daily.

Latest Exchange Rate

Donate To ANE!

Mind buying a coffee to support us here at All Naija Entertainment?. Yes?

Donate Now
Nengi BBN
Entertainment2 hours ago

BBNaija 2020: “I never liked Kiddwaya” – Nengi

Laycon Nengi
Entertainment2 hours ago

BBNaija: Laycon advises Nengi on Ozo

Nengi and Ozo
Entertainment2 hours ago

BBNaija 2020: My friendship with Ozo is over – Nengi

Erica BBN White Party
Entertainment2 hours ago

BBN 2020: Erica Missing At All-white Party After Preparation For Show

Entertainment2 hours ago

BBNaija: Dorathy reveals feelings for Kiddwaya, Brighto

Ole Gunnar Solskjaer
Sports2 hours ago

Brighton 2-3 Man United: Why I Was Angry With Rashford – Ole Gunnar Solskjaer Reveals

News2 hours ago

SERAP hands Buhari ultimatum to prosecute 103 high-profile corruption cases

John Enenche
News2 hours ago

We lost 18 people during attack on gov Zulum’s convoy ― DHQ

Nyesom Wike
News2 hours ago

Rivers: Wike Promises Early Completion Of 258-bed Mother, Child Hospital

Francis Waive
News3 hours ago

Water Resources Bill Is Northern Agenda To Tighten The Noose On The South – House Of Reps Member

Granit Xhaka
Sports3 hours ago

I Wouldn’t Be With Arsenal Without Mikel Arteta – Granit Xhaka

Gareth Bale Tottenahm
Sports3 hours ago

I Love Tottenham With All My Heart – Gareth Bale

Peter Obi
News7 hours ago

Peter Obi Break Silence On Viral 2023 Campaign Posters

ZLP logo
News7 hours ago

Ondo Guber 2020: ZLP Denies Plan To Collapse Structure Into Another Party

Lai Mohammed
News7 hours ago

Labour: Planned Strike Can Only Bring More Hardship For Ordinary Nigerians – Lai Mohammed

Gun men - Bandits
News23 hours ago

Bandits kill Army colonel, two soldiers in Katsina

News24 hours ago

Four Found Dead In One-room Apartment In Abraka After Eating Noodles

Man Utd vs Brighton
Sports24 hours ago

EPL: Man Utd beat Brighton with Fernandes penalty awarded after full-time

Education24 hours ago

School Resumption: Rivers To Reopen Schools, October 5

Sports1 day ago

Super Eagles out to end Algeria’s 18-match unbeaten run

ANE Billboard Hots!

Join "ANE sabi" clique

Don't miss a thing, get ogbonge ANE latest updates to fuel your conversation daily.

Copyright © All Naija Entertainment.