Massive Fraud Going On In Electricity Sector — EFCC

• He disclosed that the incessant collapse of the national grid is not unconnected to fraud in the electricity sector

The Economic and Financial Crimes Commission (EFCC) says Nigeria’s electricity sector is a monumental cesspool of corruption and fraud.

The Chairman of the commission, Ola Olukoyede,  raised the alarm on the malfeasance, shady and sharp practices in the sector on Tuesday.

He disclosed that the incessant collapse of the national grid is not unconnected to fraud in the electricity sector, especially the use of poor and substandard materials.

Olukoyede made the disclosure when the House of Representatives Committee on Anti-Corruption and Financial Crimes, visited the headquarters of the Commission in Abuja

Olukoyede said, “As I am talking to you now, we are grappling with electricity. If you see some of the investigations we are carrying out within the power sector, you will shed tears.

“People who were awarded contracts to supply electricity equipment, instead of using what they call 9.0 guage, they will buy 5.0.

“So, every time you see the thing tripping off, gets burnt, and all of that, It’s part of our problems.”

Meanwhile, the EFCC boss disclosed that the agency would now dwell more on crime prevention than recovery, adding that concentration would be more on the spending of ministries and agencies of the Government Agencies.