Alleged N2bn Fraud:Probe Marilyn Amobi, NBET Boss Now, CACOL tells EFCC, ICPC

The Centre for Anti-Corruption and Open Leadership, CACOL, has called on the two corruption fighting agencies in the country, Economic and Financial Crimes Commission (EFCC) and Independent Corrupt Practices and Other related offenses Commission (ICPC), to immediately probe the Managing Director of the Nigeria Bulk Electricity Trading Plc. (NBET), Marilyn Amobi, for alleged fraudulent payment of, at least, N2bn (Two Billion Naira) to two power generating companies as well as her involvement in a series of corrupt acts such as subversion of board approvals and infraction of procurement laws.

In a release issued by the anti-corruption organization’s Coordinator, Media and Publications, Adegboyega Otunuga, the Executive Chairman, Mr. Debo Adeniran stated, “We would recall that over the last weekend, some Nigerian Newspapers, particularly the very credible online Newspapers, PremiumTimes, published the result of an investigation into the Electricity sector in the country and revealed how few weeks after Marilyn Amobi was confirmed as the substantive boss of NBET in July 2016,  she started overpaying two power generating companies – Omotosho Electric Genco and Olorunsogo Electric Company, in flagrant violation of the details of a Power Purchase Agreement (PPA) the companies signed with the government in February and August 2016, respectively; the PPA being an agreement between NBET and power generating plants for the sale and purchase of energy generated by the plants.

“Also, embedded within the PPA is the Gas Supply Agreement (GSA) that covers the supply of natural gas to the generating plant and the Gas Transportation Agreement (GTA), which is an agreement between gas transporters and power generating plants. According to the PPA, to qualify for full payment, generating plants must provide evidence that they have active GSA and GTA or else the power purchase agreement would be deemed inactive and would only receive payment for the power they supplied. The agreement obtained by Leaks NG shows this fact, Seller (Omotosho Genco) hereby agrees that any claim for Available Capacity payment under the PPA are conditional on the Seller providing evidence acceptable to the Buyer (NBET) confirming that it has a legally binding and enforceable Gas Supply and Aggregation Agreement and Gas Transportation Agreement, in accordance with clause 3.2.2 and 4.2.1 of the PPA,”

“It was, however, discovered that, despite the fact that Omotosho did not provide evidence of gas supply aggregation and transportation, the company continued to tender request for full payment for 20 months. According to available documents, the over-invoicing was detected in October 2017 following an NBET internal audit.

“All efforts to get Omotosho to fulfill the condition for the PPA by providing necessary documentation were rebuffed, even as in June 2017, he supplied energy to the tune of 33.16megawatts but invoiced up to 161.74megawatts. This shows that Omotosho laid claim to an excess of 123.58megawatts as excess capacity for the cycle and requested for payment of N1.023bn (over One Billion Naira)  instead of N209.82mn (a little over Two Hundred Million Naira), leaving an excess of N813.7mn for the capacity in June 2016. Another firm, named, Olorunsogo also issued an invoice of N1.25bn for capacity for June 2016 as against N75.36mn calculated by its actual energy, thus, making the two firms over-invoicing an amount that is up to N1.99bn (almost Two Billion Naira) in just one single month of June 2106.”

The CACOL Executive Chairman added, “Other infractions committed against the people and government of Nigeria by this woman, whose scale of corruption is literally competing with her former Petroleum, counterpart, Ms. Alison Madueke, includes but not limited to: Illegal Payment of Millions of Naira to Law firms, Illegal Payment to Consultant, Transfer of staff to without Board Approval, contrary to laid-down rules, etc. While all these corruption issues underline the cause of much of our underdevelopment as a nation, it portends a very grave risk to the survival and sustenance of democracy in the country as failure to provide the basic needs of the people always serve as a veritable plank for civil unrest and instability in government everywhere. This is why CACOL, as an anti-graft organization, especially that kind of corruption that is usually perpetrated by those at the helms of affairs, should always sound very repugnant to all Nigerians.

“We, therefore, call on EFCC to investigate Marilyn Amobi’s activities and bring her to justice, if found wanting in any way to serve as a deterrent as well as a way of overturning the fortunes of power supply debacle in the country.”

45 thoughts on “Alleged N2bn Fraud:Probe Marilyn Amobi, NBET Boss Now, CACOL tells EFCC, ICPC

  • April 13, 2021 at 1:27 pm
    Permalink

    Hi, Neat post. There is a problem with your web site in web explorer, may check this?

    IE still is the marketplace leader and a huge component to people will leave out your magnificent writing due to this
    problem. asmr 0mniartist

  • April 15, 2021 at 4:27 am
    Permalink

    I like it when folks get together and share thoughts. Great website, stick with
    it! 0mniartist asmr

  • April 28, 2021 at 3:41 am
    Permalink

    Very good information. Lucky me I recently found your website
    by chance (stumbleupon). I have saved as a favorite for later!

  • April 28, 2021 at 11:35 pm
    Permalink

    Informative article, exactly what I was looking for.

  • April 29, 2021 at 4:03 am
    Permalink

    Hurrah, that’s what I was seeking for, what a stuff! existing
    here at this blog, thanks admin of this site.

  • April 29, 2021 at 2:02 pm
    Permalink

    I am curious to find out what blog system you have been using?
    I’m experiencing some minor security issues with my latest website and I would like
    to find something more secure. Do you have any recommendations?

  • May 4, 2021 at 12:32 am
    Permalink

    Hi there to all, how is all, I think every one is getting more from this web
    site, and your views are pleasant designed for new users.

  • May 4, 2021 at 10:31 am
    Permalink

    Hey there, I think your website might be having browser compatibility issues.
    When I look at your blog in Chrome, it looks fine but when opening in Internet Explorer, it has
    some overlapping. I just wanted to give you a quick heads up!
    Other then that, terrific blog!

  • May 8, 2021 at 2:08 am
    Permalink

    For hottest information you have to go to see web and on internet I
    found this website as a best web page for most up-to-date updates.

  • May 9, 2021 at 6:11 am
    Permalink

    Wow, marvelous blog layout! How long have you
    been blogging for? you make blogging look easy. The overall look of your website is excellent,
    let alone the content!

  • May 15, 2021 at 3:07 pm
    Permalink

    scoliosis
    Everyone loves what you guys are up too. This sort of clever work and
    exposure! Keep up the awesome works guys I’ve added you guys
    to my own blogroll. scoliosis

  • May 16, 2021 at 8:26 pm
    Permalink

    scoliosis
    Wonderful blog! I found it while searching on Yahoo News. Do you have any suggestions on how to get listed in Yahoo News?
    I’ve been trying for a while but I never seem to get there!
    Cheers scoliosis

  • May 17, 2021 at 11:13 am
    Permalink

    156865 786198Do you have a spam problem on this website; I also am a blogger, and I was curious about your situation; many of us have developed some nice procedures and we are looking to trade strategies with others, why not shoot me an e-mail if interested. 371664

  • May 19, 2021 at 11:41 pm
    Permalink

    dating sites
    Just want to say your article is as surprising. The clearness in your
    post is simply nice and i can assume you’re an expert on this subject.

    Fine with your permission let me to grab your feed to keep up to date with forthcoming post.
    Thanks a million and please carry on the rewarding work.

    free dating sites https://785days.tumblr.com/

  • May 20, 2021 at 3:40 pm
    Permalink

    dating sites
    I’m really impressed with your writing skills as well as with the layout on your blog.
    Is this a paid theme or did you customize it yourself?
    Anyway keep up the nice quality writing, it’s rare to see a
    great blog like this one nowadays. free dating sites

  • May 21, 2021 at 10:50 am
    Permalink

    Hi to every one, the contents existing at this website are genuinely remarkable for people experience, well,
    keep up the good work fellows.

  • May 26, 2021 at 2:49 am
    Permalink

    Does your website have a contact page? I’m having problems locating it but, I’d like to send
    you an e-mail. I’ve got some creative ideas for your blog you might be
    interested in hearing. Either way, great site and I
    look forward to seeing it improve over time.

  • May 26, 2021 at 6:50 am
    Permalink

    I am genuinely grateful to the owner of this website who
    has shared this fantastic paragraph at at this place.

  • May 29, 2021 at 8:43 am
    Permalink

    Hello mates, how is the whole thing, and what you desire to say on the topic of this post, in my view its really amazing in support of me.

  • May 30, 2021 at 12:56 pm
    Permalink

    Hi, Neat post. There is an issue with your site in internet explorer, might test this?
    IE nonetheless is the marketplace leader and a huge element of folks will miss your great writing
    due to this problem.

  • May 31, 2021 at 12:15 am
    Permalink

    Please let me know if you’re looking for a writer for your blog.
    You have some really good posts and I think I would be a
    good asset. If you ever want to take some of the load off, I’d really like to write some articles for your blog in exchange for a link back to mine.
    Please blast me an e-mail if interested. Thanks!

  • June 1, 2021 at 10:34 am
    Permalink

    Woah! I’m really digging the template/theme of this site.
    It’s simple, yet effective. A lot of times
    it’s very difficult to get that “perfect balance” between superb usability and visual appearance.
    I must say you have done a great job with this. Also, the
    blog loads very quick for me on Internet explorer.

    Outstanding Blog!

  • June 1, 2021 at 1:05 pm
    Permalink

    Link exchange is nothing else but it is only placing the other person’s
    weblog link on your page at suitable place and other person will also
    do same in support of you.

  • June 1, 2021 at 11:16 pm
    Permalink

    Aw, this was a very nice post. Taking the time and
    actual effort to generate a top notch article… but what can I say…
    I procrastinate a lot and never manage to get anything done.

  • June 18, 2021 at 10:11 pm
    Permalink

    150873 622472Fantastic post, I conceive site owners ought to learn a good deal from this internet weblog its rattling user genial . 535813

  • August 9, 2021 at 12:40 pm
    Permalink

    Thanks for sharing your thoughts about when. Regards

  • August 11, 2021 at 1:14 am
    Permalink

    Helpful information. Fortunate me I discovered
    your web site by chance, and I am shocked why this twist
    of fate didn’t came about in advance! I bookmarked it.

  • August 12, 2021 at 12:12 am
    Permalink

    Highly descriptive blog, I enjoyed that bit. Will there be a part 2?

  • August 17, 2021 at 5:20 am
    Permalink

    There’s certainly a great deal to find out about this subject.

    I love all of the points you’ve made.

  • August 22, 2021 at 10:46 am
    Permalink

    I have been exploring for a little bit for any high-quality articles or
    blog posts on this sort of area . Exploring in Yahoo I finally stumbled upon this site.
    Reading this information So i am glad to express that I have a very good uncanny
    feeling I found out just what I needed. I so much unquestionably will make sure to don?t fail to remember this website
    and give it a glance on a continuing basis.

  • September 1, 2021 at 12:14 pm
    Permalink

    I quite like reading through an article that can make people think.
    Also, thanks for permitting me to comment!

  • September 2, 2021 at 3:43 am
    Permalink

    595398 643993Quite efficiently written story. It is going to be beneficial to anybody who employess it, including me. Keep up the very good function – canr wait to read a lot more posts. 985032

  • September 5, 2021 at 10:49 am
    Permalink

    If some one desires expert view about blogging and site-building
    after that i suggest him/her to visit this webpage, Keep up the pleasant work.

  • September 12, 2021 at 2:36 am
    Permalink

    After looking into a number of the articles on your blog, I truly appreciate
    your way of blogging. I book marked it to my bookmark webpage list and
    will be checking back in the near future. Please visit my website as well and tell me what you think.
    scoliosis surgery https://0401mm.tumblr.com/ scoliosis surgery

  • September 13, 2021 at 1:03 pm
    Permalink

    I do agree with all the ideas you have introduced to your post.

    They’re really convincing and will certainly work. Still, the posts are too
    brief for beginners. May you please lengthen them a bit from subsequent time?

    Thanks for the post. ps4 https://bitly.com/3z5HwTp ps4 games

Leave a Reply

Your email address will not be published.

%d bloggers like this: