The Economic and Financial Crimes Commission (EFCC) has launched investigations into the alleged $16 billion spent on power during the administration of former president

President Muhammadu Buhari had on Tuesday, May 22, queried the expenditure on power during the Obasanjo administration.

The former president had also responded, challenging the Federal Government to go ahead and probe him.

The Nation reports that a team of EFCC operatives is already gathering facts that would be used for the investigation.

According to the newspaper,  the agency may invite two ex-ministers, former top officials of the defunct Power Holding Company of Nigeria (PHCN), present and past officials of the Niger Delta Power Holding Company (NDPHC) and all the people recommended for investigation by a committee of the house of representatives.

"We are looking into all the allegations and issues surrounding the power projects. We will conduct a comprehensive and forensic probe to ascertain the true status of all the projects,"  The Nation quoted a source as saying.

"This investigation will actually ascertain how much has been spent so far.  We have many figures being bandied about as follows: $16 billion, $13.278 billion, $10.3 billion, $8.4 billion and $8.55 billion.

"This is not an investigation aimed at ex-President Olusegun Obasanjo or anybody. We have to step in to set the records straight.

"Already, a team is collating facts and figures on these projects as part of the preliminary level/ bend of the investigation. We will retrieve the report of the House of Representatives Committee which investigated the power projects.

"The House actually recommended 18 top former public officers, including two ex-ministers, for investigation by anti-graft agencies, especially EFCC and ICPC. Many salient issues were raised for investigation by the house committee, which was headed by Hon. Ndudi Elumelu.

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In 2018, the committee said about $13 billion was spent on power between 1999 and 2007.