N60bn Sale Proceeds: EFCC Probes Amaechi

THE Economic and Financial Crimes Com­mission (EFCC) has com­menced a probe of im­mediate past governor of Rivers State, Chibuike Amaechi, based on a peti­tion from a Port Harcourt-based group, The Integrity Group.


The commission will beam its searchlight on some of Amaechi’s projects executed while in office.
Acting on a July 29 peti­tion, the EFCC has already written to the Permanent Secretary of the state’s Min­istry of Finance and the Ac­countant General to furnish it with details on the proj­ects being investigated.

The group’s petition al­leged that the state’s electric power projects were sold and proceeds converted to other uses, adding that about N60 billion, being proceed from the sale of the power projects was paid to three companies in Port Harcourt. It alleged that the transfer of the funds was done within one week, between Decem­ber 1, 2014 and December 8, 2014.

The group equally al­leged in the petition that the proposed Karibi Whyte Specialist Hospital, Port Harcourt, had cost Rivers State about N4.63 billion but failed.

Also, The Integrity Group accused Amaechi of ap­pointing a firm of tax con­sultants, that was allegedly collecting 12 per cent of taxes collected, on a much lower monthly collection target of N2.5 billion, as against the five per cent ad­ministrative cost enjoyed by Rivers State Internal Rev­enue Service, in accordance with the law.

It said the state’s rev­enue service was generating about N7.5 billion revenue before the tax consultants came in.
While reacting to the peti­tions, in three letters, dated August 31, 2015, the EFCC asked the Ministry of Fi­nance and Accountant Gen­eral of the state to furnish it with details of the projects the petitioners complained about.

Signed by Olufunke Adetayo-Ogunbode, Head, Economic Governance, the EFCC asked the Permanent Secretary, to explain certain things relating to the sale of the state power projects and Karibi Whyte Special­ist Hospital, which was handled by Clinoriv Spe­cialist Hospital and Leisure Limited.

The EFCC letters to the Permanent Secretary, Min­istry of Finance, on the sale of the power projects, entitled: “Investigation ac­tivities: Sale of state power projects,” stated: “The Commission is investigat­ing a case of conspiracy, abuse of office and fraud.
Source: The Sun