Senator representing Kogi West district Dino Melaye has raised a motion titled “Monumental Fraud in Power Sector.”
Melaye, in the motion, complained that the Federal Ministry of Power, Works & Housing, is attempting to retrieve a certain $350 million released to the Nigerian Electricity Bulk Trading Company (NBET) by the Federal Government in 2013.
The releasing of the fund to NBET was to back stop NBET with new investors, he noted, and that the money was domiciled with the Nigerian Sovereign Investment Authority (NSIA).
He said the ministry intends to divert the fund to the fast power projects which the ministry has already spent $35 million on.
Of the $35 million, $29 million was paid to General Electric, he said, and $6 million to consultants.
He asked if due process was followed during the payment of these sums, and who the consultants were.
See the motion below: