Reps to Investigate Alleged Claim of Non-Core PHCN Assets


The House of Representatives on Tuesday resolved to investigate the alleged fraudulent sale of Power Holding Company of Nigeria (PHCN) none-core assets and scraps, NTA News reports.

This was sequel to a motion under matters of urgent national importance by Rep. Rita Orji (Lagos-PDP). Moving the motion, Orji explained that the auctioning of PHCN cargoes, scraps and obsolete items by Nigeria Electricity Liability Management Ltd (NELMCO) worth over N20 billion was recently carried out. She said that over N1.5 billion was claimed to have been realised from the sales.

Orji expressed worry that the bidding process was allegedly neither transparent nor forthright as allegations of fraudulent activities trailed the sales, making the outcome to end in disputes. She pointed out that if the outcry by the public against the seemingly spurious sales and auctions were left unattended to, it would set a bad precedence for such transactions in the future.

The motion was unanimously adopted by members when it was put to a voice vote by the Deputy Speaker, Mr. Yussuff Lasun, who presided at plenary. Consequently, the House mandated its Committee on Power and Public Procurement to investigate the allegedly fraudulent sale of the assets and report back within one month.

Source: Energy Mix Report

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