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Group Petitions EFCC Over Alleged $20billion Fraud In Power Sector

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A coalition of Civil Society group under the aegis of Empowerment for Unemployed Youth Initiative, has demanded a comprehensive investigation into allegations of looted electricity project fund to the tune of $20billion by General Electric International (GE) and her Nigerian business partner, Rockson Engineering limited.

In a petition addressed to the office of the chairman, Economic and Financial Crimes Commission, (EFCC), and supported with documents, the national coordinator of the coalition, Solomon Adodo, urged the anti-graft agency to probe new findings of alleged criminal conversions and embezzlement of the project funds by the organisations.

Adodo in a written petition to EFCC in Abuja yesterday, lamented over the deafening silence accorded to the House of Representative report of investigation into huge sums of money spent on power generation, transmission and distribution between June 1999 and May 2007, without commensurate result.

According to him, “GE International has deprived Nigeria of at least 1349MW of electricity over a period of six years.

He added, “More worrying and utterly disconcerting is the fact that most of the companies that played key roles and were indicted by the said report  against the Nigerian economy have resurfaced under new consortiums to continue their spree of unfettered looting and defrauding of Nigerian government while posing as Nigeria’s technology partner in the power sector.”

He continued, “The acts of sabotage done to the efforts of the federal government and the economy of Nigeria by these organisations are quiet monumental and has led to  loss of small scale self employment opportunities for the youth.

The national coordinator however urged the EFCC to invite the key players to find out why they have continued to sabotage the federal government’s efforts and investment in the power sector.

He averred that a detailed investigation of the facts contained in the petition would help determine the actual economic losses done to the country by the companies involved.

 



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