Business Hilights
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NASS set to reopen $1.348b power fraud allegation on GE, Rockson Group

Strong indications emerged Monday on the chances of the National Assembly to reopen probe of alleged $1.348 billion power sector fraud levelled against General Electric (GE) and Rockson Engineering Nigeria Ltd.
Business Hilights gathered that the said allegation came via a signed petition by about 10 civil society organisations and dated September 26, 2018, was received by the office of the acting chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, on September 27, 2018.
Before now, President Muhammadu Buhari had been wondering how a former government allegedly spent $16 billion on the sector without results and accused the National Assembly of not exercising adequate oversight on the sector.
The two companies were blacklisted in a 2008 House of Representatives report.
Whereas followers of the matter had argued that the case has lingered unattended for years and may be swept under the carpet, the chairman of the House Committee on Power, Dan Asuquo, has given a new hope of tracking the allegation at the floor of the House as soon as possible.
In an interview, he expressed surprise that several relevant agencies of the government are yet to take action on findings by a number of House Committees of the previous National Assembly.
He further expressed optimism that the current 8th Assembly would push for the refund of the alleged stolen money.
Hon. Asuquo averred that “The National Assembly has done its work. It has come out with a report. The report is there for anybody to see and use. If you talk about Rockson, in collaboration with GE, they have issues of which Nigerians should ask questions. If somebody is not performing, the law is there.
“We cannot promote the fleecing of taxpayers’ money. If somebody is irresponsible, the law is clear; you blacklist and terminate, as long as you’ve kept your own part of the contract. We will call for that refund, if that magnitude of padding, waste and corruption has been done,” the chairman of the House Committee on Power, Dan Asuquo.