The House of Representatives yesterday resolved to probe the recent sale of the non-core assets and scraps of the defunct Power Holding Company of Nigeria (PHCN).
The House said the sale of the assets was marred by allegations of fraud, and mandated two of its committees to investigate the matter and report back within one month.
Adopting a motion by Rita Orji (PDP, Lagos), the House directed that no further sales of such assets should take place, pending the outcome of the investigation.
The two committees were further mandated to monitor further sales of the remaining overtime cargoes by the Nigeria Electricity Liability Management Company (NELMCO).
The lawmakers said the PHCN overtime cargoes, scraps and obsolete items worth over N20 billion were recently auctioned with over N1.5bn “claimed to have been realised from the sales.”
The House said there were widespread claims of irregularities and improper advertisements on national dailies, noting that some interested and competent people were not allowed to buy the assets after fulfilling all the necessary requirements.
