Senate to probe Power Ministry over alleged $350m infraction

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The Federal Ministry of Power and Housing, headed by Mr. Babatunde Fashola, is now being fingered by the Senate in an alleged $350 million infraction, The Sun reports.

According to the upper chamber, Fashola’s Ministry allegedly got part of $1 billion from an Euro bond issued by the Federal Government in 2013, which he then said he intended to spend on a project called Fast Power. Senator Dino Melaye, relying on Order 42 of the Senate Standing Rules, raised the alarm last week on the floor of the red chamber.

Seeking the nod of the Senate President, Bukola Saraki, to sponsor a substantive motion at the next legislative day, Melaye was given the leeway to do so next Tuesday. According to him, the sum of $350 million was given to IBEX in 2014 by the administration of former President Goodluck Jonathan but alleged that the said money is now being stolen in installments by officials of the Ministry.

The Kogi-born lawmaker further alleged that in 2016, the Ministry came up with a project, named Fast Power which was supposed to build new generating plants to add power to the national grid. He said the National Assembly did not approve any expenditure by the Ministry, but that officials of the Ministry are currently spending without the approval of the parliament.