Niger Delta Power Holding Co: Group calls for MD’s probe over N7b offshore withdrawals


Group of stakeholders in the power sector has called on the anti-corruption agencies, EFCC, ICPC to beam its searchlight on the perennial anomalies and corruption bedeviling Niger Delta Power Holding Company Ltd, a Limited Liability Company having the Federal, State and Local Government as Shareholders with a mandate to operate the National Integrated Power Project.  The group who for now opt to remain unanimous alleged that frivolous withdraws were made on the Company’s First Bank and Access Bank offshore accounts between October, 2016 to February 2017.

The group alleged among other things that a whooping N7billion was withdrawn from the Company’s Access Bank and First Bank UK Accounts to prosecute Joseph Chiedu Ugbo’s quest to be confirmed the substantive MD of the Company.

It would be recalled that the Power Sector in Nigeria has engulfed the largest budgetary allocations since the advent of this democracy with abysmal performance of the sector amidst dwindling power supply.

Speaking to the Investigative Editor of LeadingReporters, the group asserted that unless those saddled with leadership positions especially sensitive sectors like the Power sector are held accountable, the Nation would continue to writhe under the pains of mismanagement among those who put selves first before service to their fatherland.

“We have it on good record that a whooping N7billion was withdrawn for cash and gift sprees towards the Managing Director’s Bid to be confirmed a substantive Managing Director.  These monies were withdrawn from both the First Bank and Access Bank Offshore Accounts in United Kingdom.  We will not hesitate to present to the concerned authorities all information that would aid their investigation once investigation into the withdrawals and deployments of funds commences”.

All attempts to reach the Managing Director to address the allegations were unsuccessful as calls and texts sent to his mobile were unanswered.  A letter based on Freedom of Information Act, 2011 dated 27th March, 2017 was dispatched to his office without replies.


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