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Fashola to appear before Senate committee over alleged fraud

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Former governor of Lagos State, Babatunde Fashola has been ordered by the Senate on Wednesday to appear before its committee, to render an account of funds spent on the Afam Fast Power Project.

The lawmakers also want the committee to investigate and consider summoning the Nigerian Sovereign Investment Authority, NSIA, and the Nigerian Electricity Bulk Trading Company, NBET, to establish the status of the $350 million released to NBET.

Presenting the motion tagged, “Monumental Fraud in the Power Sector,” a lawmaker, Dino Melaye, said the $350 million was given to NBET in 2013 as shareholder contribution to shore up its capitalisation and provide assurance to investors that the company is credit worthy.

He said the fund was domiciled with NSIA but that the committee is currently under pressure from the power ministry to release the funds.

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