JUST IN: Two Arrested In connection With Obasanjo’s $16bn Power Project

The Economic and Financial Crimes Commission EFCC have arrested two top officials of the Niger Delta Power Holding Company (NDPHC), in connection with execution of the $16 billion Obasanjo power projects.

According to report, the NDPHC officials arrested are the Head of Finance, Marvel Emefiele and Head of Compensation Eze M. C. Odigbo. 

Mouthpiece NG gathered that the two arrested were among the four persons detained by the anti-graft agency on Wednesday. 

It was gathered that the two top officials supervised the execution of the project. 

President Muhammad buhari had ordered for the beginning of probe of the humongous expenditure during the Obasanjo presidency in connection with $16bn on power project. 

Those arrested 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 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 learnt last night. There are fears that some of the suspects might have secretly relocated abroad.