Revealed! Barth Nnaji and Co Siphoned N1bn in 3 months from PHCN

[Sunexx360]

Following the sacking of Prof. Barth Nnaji from the Ministry of power over conflict of interest, allegation of questionable transfer of a whopping sum of One billion naira within three months, during his reign, from the accounts of the Power Holding Company of Nigeria Plc (PHCN) has come to the fore.
Now, stakeholders in PHCN, who are privy to the curious requests from the erstwhile supervising minister vis-a-viz ministry, are worried by the regularity of the requests and the exact purposes. But sources at in the ministry of power confirmed to our correspondent that the leadership of the ministry had unrestricted access to PHCN's accounts, and treated it as splurge funds, after PHCN achieved of its target of 4,000 megawatts and the determination of the Jonathan's administration to privatize the company.
According to documents on the transfer of funds made available to huhuonline.com, onDecember 20, 2011, a PHCN executive director and a senior manager, in a memo addressed to the Manager of Access Bank Plc, located on Aminu Kano Street Wuse II, Abuja requested that 'the Current Account ofour station specified below be funded from our outstanding Debt Account No 0430010004816 with you'.
Specifically, the duo requested that One hundred and eighty million,(N180m) be transferred to the Federal Ministry of Power (Project) Account in Zenith Bank Plc, Maitamabranch and an additional Fifty million naira (N50m) transferred to the Industrial TrainingFund at Keystone Bank Ltd, Wuse II, Abuja.
However, prior to the aforementioned transfers, on December 9, 2011, there was transfer of   N395, 281, 000 from the company's outstanding Debt Account 0430010004816.In a letter marked ED-MO-TCN/002-003-1706-2011, the same PHCN executive director and an assistant general manager requested Access Bank Plc, Aminu Kano Street, Wuse II, Abuja to transfer the sum to the Federal Ministry of Power (Project) at Zenith Bank Plc, Maitama branch, Abuja.
A note attached to the letter implied that the request was authorized by the top management of the ministry of power.
The request came through a letter FMP/PPRU/163/VOL.11/6 of December 8, 2011 and was tagged 'media budget'.
Furthermore, on January 17, 2012, the executive director wrote to the Head, Public Sector Group, First Bank of Nigeria Plc, Central Business District, Abuja to transfer N200million from the company's market clearing Account No 2005859094 into the Presidential Task Force on Power supposedlyfor the sensitization of the Public on Power Sector Reform .
Huhuonline.com gathered that   June 7, 2012; another PHCN executive director and asenior management officer in a letter to Diamond Bank, Aminu Kano Street, Wuse II, Abuja requested that N84 million be transferred from PHCN outstanding Debt Account to Federal Ministry of Power (Project).
Our findings reveals that the transfer was in response to a June 5, 2012 memo requesting 'logistic support' for increased patrol of transmission lines and projects nationwide.
  Excerpts from the memo read:
  'the prevalent vandalism of transmission lines and the increased collapse of towers had often led to the instability in the power supply causing, as it were, frequent system collapses. There is need to nip this trend in the bud and speedily attend to such issues when they arise especially with the coming on board of the National Integrated Power Projects. In order to harvest the gains of these completed projects and to ensure the strengthening of the transmission system, it becomes necessary to patrol these lines more frequently.
'In the light of the above, it is recommended that the lines should be constantly patrolled jointly by the officials of the ministry, Transmission Company of Nigeria and security and agencies. In order to provide the necessary logistics support for the period exercises, the following vehicles should be procured: 4 no. SUVs at N21 million each, totaling N84 million.'
Huhuonline.com gathered that an additional N98, 985,000 was made available to the ministry of power based on a presidency approval for the procurement of two treatedsecurity vehicles for the minister. A director in the ministry instructed PHCN to 'take necessary action to ensure the prompt release of the sum (N93, 985,000.00) into the ministry's project Account.

[KingFemzee]

Is anybody ever clean in Nigerian govt, its like the sodom and gomorah.