‘Billions Stolen In Fashiola’s Ministry’

Senator Dino Melaye has accused the Babatunde Fashola-led Ministry of Power, Works and Housing of spending monies not appropriated in its budget. Melaye raised an alarm on the ‘monumental fraud’ in the Ministry of Power, Works and Housing. Speaking on the floor of the Senate, yesterday, Melaye accused the ministry of spending monies not appropriated in its budget.  Melaye alleged that the execution of the ministry’s Fast Power Initiative has been laced with corruption. “In line with anti-corruption posture of this chamber especially now that our cries and observation are yielding dividends as expressly manifested in the case of Babachir Lawal,” Melaye said.
“Today, I bring to the attention of this Senate, a monumental fraud in the power sector. In July 2013, the Federal Government raised N1billion from a Euro bond issue. From the proceed, the sum of $350 million was given to IBEX in 2014. This money is installmentally stolen.

“As I speak to you, Mr President, sometime last year again, the Ministry of Power came up with a project they termed Fast Power Initiative. This indigested project is supposed to build new generating plants to add power to our grid.
“There are few questions I need to ask to bring a substantive motion to bring up in another legislative day. Up till date, there is no detail to build this new generating plant or feasibility study. There is no appropriation by National Assembly for this project. “The ministry has spent so $35million on the affirmed Fast Power Initiative project that has no appropriation or no detailed feasibility study. How and when was this money appropriated? Out of this money, $29million was purportedly paid to General Electric for turbine while $6million was paid to others. This amount amongst others is a monumental fraud,” he added. In his remarks, Senate President, Dr Bukola Saraki urged Melaye to present the matter as a motion on another legislative day for proper action.

-Tide

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Posted by admin on Nov 3 2017. Filed under Corruption Politics, Lagos, Latest Politics, State News, Top Stories. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry