The monumental fraud that is currently rocking the Ministry of Power is to say the least, mind boggling....CONTINUE READING
Yesterday, the Economic and Financial Crimes Commission, EFCC, arrested a former Minister of Power, Sale Mamman over the embezzlement and diversion of N22 billion during his time as minister under President Muhammadu Buhari, from 2019 to 2021….CONTINUE READING
The former minister was arrested after investigations by the anti-graft agency revealed that he conspired with some staff members of the ministry in charge of the accounts of the Mambilla Hydro Electric Power projects which was recently concessioned for 30 years, to divert the money and share among themselves.
But from findings by The Street Journal, not only is the embezzled money being bandied around, N22 billion, far less than the actual money stolen, which is N340 billion, but the magnitude of the fraud is such that it indicted four former ministers of power, six retired permanent secretaries, a director of finance, some directors of powers, a retired director of Bureau of Public Procurement, BPP and a retired director in the ministry of finance, all of whom are in EFCC custody.
Also in EFCC custody besides Saleh are the Director Finance, Ministry of Power; the Permanent Secretary in the ministry and a consultant and a certain Engineer Adewunmi, the managing director of Decrown West Africa Company Limited, an engineering consulting company. They were all apprehended months before Saleh’s arrest became public knowledge.
The lid on Saleh and his cohort’s stealing was blown open when the director of finance in the ministry didn’t pay one of the accomplices, his own share of the illicit money which is N250 million since March 2022. Tired of waiting, he petitioned the EFCC using the director’s account balance as proof. Unfortunately, the petition opened up more can of worms, the magnitude one can’t yet begin to comprehend.
This began an investigation into the controversial $5.8 billion Mambilla Hydro Electric Power project contract to Sunrise Power.
From EFCC findings, it was discovered that the director, within only three months of becoming a director, had a bank balance of N6 billion. Also, 12 Abuja based bureau de change operators and a company called CNEEC Power Nig LTD, were the conduits through which money was siphoned from the accounts of the ministry for 12 good years.
Ironically, the promoter of CNEEC Power Nig LTD was unaware that fraud was being committed using his company’s forged letter headed papers and his signature.
CNEEC Power Nig Ltd involvement
In 2012, CNEEC Power Nig Ltd bidded for the power project contract and won the tender but the promoter was unceremoniously edged out while his company name was ‘retained’ to commit fraud.
Findings reveal that the equipment to be used for the project were supposed to have been brought in from Europe at an extra cost of $250 million. But instead, the equipment came in from China to enable them save cost on inferior equipment and pocket the balance of the money.
Following the whistle blowing, the EFCC last year began to monitor the promoter of the company (name withheld) with intention to get more proof that he was in on the fraud.
A few weeks ago, he was finally confronted with ten ‘Ghana must-go’ bags filled with exhibits: account statements from ten bureau de changes, girlfriends of the ministers and directors as well as that of the edged out MD’s account.
After establishing the fact that he was not in on the fraud, the anti-graft agency invited him to their office to see the arrested criminals and urged him to sue them for damages and forgery.
Ironically, 76-year-old Adewunmi, a consultant and a pastor with the Redeemed Christian Church of God, RCCG and his company, Decrown West Africa Company Limited were brought in on the power project contract by CNEEC Power Nig Ltd, only to join the civil servants to sideline the promoter of CNEEC Power Nig Ltd.
The 40% local content scope meant for CNEEC Power Nig Ltd was executed by companies owned by the consultant, as subcontracts from CNEEC Power Nig Ltd without the promoter of CNEEC Power Nig Ltd’s knowledge.
These were people who were supposed to work with CNEEC Power Nig Ltd on the project but pushed out the promoter and used the company to illegally amass illicit wealth for themselves.
Also from EFCC findings, the arrested fraudsters reportedly own estates across the country, private universities, properties all over the world and send their children to the best universities in the world using their ill gotten wealth….CONTINUE READING
