Legislative AccountabilityObservatory
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Alleged planned diversion of US$350 million in Eurobond funds by the power ministry

Status
No final report
Assembly
Senate
Opened
8 November 2017
Assembly term
8th National Assembly (2015–2019)
Committee
Committees on Power and Public Accounts
Sum at issue
US$350 million
Subject
Spending and misuse of funds
Without a report for
3,290 days

On a motion by Senator Dino Melaye (APC, Kogi West) titled "Monumental Fraud in the Power Sector", the Senate mandated its Committees on Power and Public Accounts to invite the Minister of Power, Works and Housing, Babatunde Fashola, to account for spending on the Fast Power projects, including the Afam plant, and to investigate an alleged plan to divert US$350 million from the 2013 US$1 billion Eurobond, given to the Nigerian Bulk Electricity Trading company and held by the NSIA, to those projects. Melaye alleged that US$35 million had been spent without National Assembly approval. Fashola denied wrongdoing.

What the record shows

  • 8 November 2017
    Probe opened.
  • As of 11 November 2026
    No final report of this probe has been found on the public record.

Opened more than 120 days ago, and no final report of the committee has been found on the public record. Interim reports and hearings are shown where known. Know of a report, hearing or outcome missing here? Send a correction.