The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has revealed how the commission intervened in 2024 to stop a contractor from executing a power project using fake and substandard transmission lines.
Olukoyede disclosed this on Wednesday in Abuja when the Managing Director and Chief Executive Officer of the Nigerian Electricity Management Services Agency (NEMSA), Olusegun Adesayo, paid him a courtesy visit at the EFCC headquarters.
According to the EFCC chairman, the contractor had already been mobilised by the Ministry of Power before the commission’s investigation uncovered the importation of fake transmission materials.
He said the discovery prompted the commission to write to the ministry, recommending that the contractor be blacklisted.
“In 2024, we had cause to write to the Ministry of Power to blacklist a contractor when we investigated and confirmed that he imported fake and substandard power transmission lines for the execution of a contract given to him,” Olukoyede said.
He noted that the EFCC’s intervention prevented what could have resulted in serious national consequences.
Olukoyede said the use of substandard transmission lines could have endangered lives and property across the country.
According to him, the commission’s action helped avert potential disaster and safeguarded critical power infrastructure.
The EFCC chairman assured the NEMSA delegation of the commission’s readiness to collaborate with the agency to strengthen accountability and compliance within the electricity sector.
He said enforcing rules and regulations across the industry would contribute to improved electricity supply in Nigeria.
“We believe that we can work together to improve electricity supply in Nigeria and to ensure that all key stakeholders in the industry play according to the rules and laws guiding the sector,” he said.
Olukoyede added that the EFCC’s mandate extends beyond financial crimes to include acts of economic sabotage.
The EFCC boss also urged NEMSA to pay closer attention to procurement processes and contract management to prevent fraud.
He assured the agency that the commission possesses the expertise required to assist in investigating procurement and contract-related irregularities.
Earlier, the Managing Director of NEMSA, Olusegun Adesayo, said the visit was aimed at strengthening collaboration with the EFCC in ensuring safety standards in the electricity industry.
Adesayo said the agency is responsible for enforcing technical standards and regulations in the electricity sector to guarantee the safety, reliability and quality of electrical materials used nationwide.
According to him, NEMSA seeks cooperation with the EFCC in areas such as intelligence sharing, investigation of substandard electrical materials, procurement irregularities, contract abuses and regulatory enforcement.