Senate alleges Scam of $1.035bn in Power Ministry

In its avowed determina­tion to rid the country of corruption, the Sen­ate yesterday named Works, Power and Housing Minis­try spearheaded by Baba­tunde Fashola, in a $1.035 billion fraud.

According to the upper legislative chamber, Fasho­la’s Ministry got about $1 billion from Euro bond is­sued by the Federal Govern­ment in 2013

 This resolution of the Senate followed a point of Order raised by Senator Dino Melaye on the floor of the Senate yesterday.


In his motion Melaye sought the nod of the Senate President, Bukola Saraki, to sponsor a substantive mo­tion at the next legislative day. He was given the lee­way to bring a motion next Tuesday.

According to Melaye, the sum of $350 million was given to IBEX in 2014 by the administration of for­mer President Goodluck Jonathan. He said the said money is being stolen in­stalmentally stolen by offi­cials of the Ministry. 

“In line with the anti-corruption posture of this chamber especially now that our cries and observa­tion are yielding evidence as expressly manifested in the case of Babachir Lawal, Today I bring to the atten­tion of this Senate, a monu­mental fraud in the power sector.

“In July 2013, the FG raised N1 billion from a euro bond issue. From the proceed, the sum 350 mil­lion dollars was given to IBEX in 2014. This money is instalmentally stolen,” Me­laye alleged.

The lawmaker further al­leged that in 2016, Fashola’s Ministry came up with a project, named Fast Power. He said the Ministry, under the project, was supposed to build new generating plants to add to the power grid.

He said the National As­sembly did not approve any expenditure by the Min­istry. He said officials of the Ministry are spending without the approval of the parliament.

“The Ministry has spent $35 million on the affirmed Fast Power project that has no appropriation or no de­tailed feasibility study. How and when was this money appropriated? Out of this money, $29 million was purportedly paid to General Electric for turbines, while $6 million was paid to oth­ers.