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Thursday, November 9, 2017
The Nigerian Senate High Chamber has begun investigating allegations of $1.035 billion embezzlement by the Ministry of Energy. This investigation was conducted at the request of Dino Melaye, Senator of Kogi State.
“In June 2013, the federal government raised $1 billion through the issuance of eurobonds. In this financing, a sum of $350 million was given to the Nigerian Bulk Electricity Trading (NBET) in 2014. This amount was stolen during the payments,” said the representative at the last senatorial session.
He went on to say, “Last year, the Ministry of Energy came up with the idea of a project called Fast Power and supposed to allow the construction of new power plants.” Melave said that to date there are no details on the construction of these plants or on feasibility studies, nor has anything gone to the National Assembly for approval; however the Ministry did spend $35 million on the Afan power plant without the approval of the National Assembly.
The Senate has concluded that a more substantive motion will be presented by Melaye at the next parliamentary session.
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