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Reps investigating NDPHC’s alleged misuse of $30bn – Dogara

Speaker of the House of Representatives, Hon. Yakubu Dogara has said that the House will not relent until all allegations of misuse of N10.08 trillion (about $30 billion) by the Niger Delta Power Holding Company (NDPHC) are unraveled.

Speaker of the House of Representatives, Hon. Yakubu Dogara, has said that the House will not relent until all allegations of misuse of N10.08 trillion (about $30 billion) by the Niger Delta Power Holding Company (NDPHC) are unraveled.

The Speaker who stated this at the opening of a public hearing by an Ad hoc committee of the House, on the alleged constitutional breaches, impunity and other infractions of the NDPHC, said it was of great concern that about half of the funds were reportedly sourced through the Excess Crude Account, which belongs to the nation’s three tiers of government.

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He said, “From the information made available to the National Assembly, the NDPHC Ltd. has since 2005 invested over thirty Billion US Dollars (US$30B), over half of which was sourced from the Excess Crude Account belonging to the three tiers of Government, while the balance consists of funds from other investors.

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