SENATE TO PROBE FASHOLA’S MINISTRY OVER ALLEGED DIVERSION OF FUNDS

The Senate is launching investigations into allegations that the Ministry of Power, Works and Housing is planning to divert the $350million from the Nigerian Sovereign Investment Authority NSIA to fund Fast Power Projects.

The Senate’s decision to begin the probe follows a motion by Senator Dino Melaye who is alleging that the Ministry of Power, Works and Housing is plotting to retrieve the money in NSIA which is meant for states owned Nigeria Electricity Bulk Trading Company and divert it for its Fast Power Project.

The fund has been with NSIA since 2014 to help build market confidence especially amongst new investors in the newly privatised electricity market.

Another Federal Lawmaker Senator Mohammed Hassan in his contribution also wants the Senate to ascertain how much the Ministry of Power, Works and Housing spent on consultancy fees for the Fast Power Projects.

The Committee has been asked to report to the Senate in two weeks.

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