EFCC Uncovers Theft of N27bn Meant for Ex PHCN Workers


An EFCC source, according to the Nation, said the agency has uncovered a N27bn theft from the account of the defunct Power Holding Company of Nigeria, PHCN.

According to the report, the money was the benefits of deceased staff of the defunct power firm.

EFCC has also grilled a former Permanent Secretary in the Ministry of Power who played a role in the diversion of the cash and more heads are expected to roll over the incident.

Informed sources said those who looted the dead workers benefits decided to involve top government officials in the deal to cover up their tracks. It’s said that about 10 of such officials are currently under surveillance.

The coordinators of the deal were said to have paid cash to or buy expensive gifts for the affected officials.

Source: Independent Energy Watch Initiative

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