The Economic and Financial Crime Commission have arrested two top officials of the Niger Delta Power Holding Company (NDPHC), the company which supervised execution of the $16 billion Obasanjo power projects.
The two top officials were among the four persons detained by the anti-graft agency on Wednesday.
The arrests signaled the beginning of the probe of the humongous expenditure during the Obasanjo reign as president, with little results to show.
The NDPHC officials arrested are Marvel Emefiele, Head of Finance Marvel Emefiele and Eze M. C. Odigbo, Head of Compensation.
They are expected to account for the N850 million earmarked as compensation to communities where components of the power project were sited
Others in EFCC’s net are Mr. Richard Ayibiowu, Managing Director of Pivot Engineering and Mr. Christain Ejik Imoka, the Managing Director of Chris Ejik Nigeria Limited.
Detectives are on the trail 18 more suspects including two former governors, a former chairman of a bank and a former chairman of an airline.
About 15 more companies are also on the EFCC radar, it was learnt last night.
There are fears that some of the suspects might have secretly relocated abroad.
