Nigeria In One Minute
EFCC re-opens probe of N21.7bn IPP project
The Economic and Financial Crimes Commission (EFCC) has reopened its investigation into a N21.74 billion Independent Power Plant (IPP) project in Oghara, Delta State.
The contract for the project was awarded by the Delta State Government to an indigenous firm, Davnotch Nigeria Limited, on June 23, 2009 for the supply and installation of two Rolls Royce Trent Gas Turbine Generators to boost power generation and distribution in the state.
It had an initial contract term of 60 per cent down payment and completion period of 24 months. On June 24, 2009, Davnotch accepted the offer and promised to complete the contract within the stipulated time frame.
A total sum of N1billion was paid into Davnotch’s accounts in three banks on the same day. Subsequently, other payments were made to the same company in respect of the project. According to the interim report of investigations conducted by the EFCC, the total sum of N9, 829,495,000 has so far been paid to Davnotch Nigeria Limited.
New Telegraph, June 18, 2018
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