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ICPC Stops Investigation Into Adeosun’s Certificate Forgery, moves against against DISCOs alongside EFCC & FIRS.


The Independent Corrupt Practices and other related offences Commission (ICPC) says it has stopped the investigation into Kemi Adeosun’s Certificate Forgery, on Monday, 17th September.


The former Minister of Finance, Kemi Adeosun, confessed to forged exemption certificate of the National Youth Service Corps, on Friday, 14th September.

The matter according to the ICPC have been submitted to the Ministry of Youth and Sports Development just after the NYSC said it had concluded its investigation after two months with no result.

The NYSC Director of Press and Public Relations, Mrs Adenike Adeyemi, on Monday have asked the public to direct all its question to the Ministry of Youths and Sports Development, its supervising ministry.

“The report has been submitted to the Ministry of Youths and Sports Development and you can direct all your questions to them,” she said.

According to news, the certificate in question is dated September 2009, signed by an NYSC Director-General, Yusuf Bomoi, who already left the scheme in January 2009.

Meanwhile, the Independent Corrupt Practice and Other Offences Commission (ICPC), Economic and Financial Crimes Commission (EFCC) and Federal Inland Revenue Service (FIRS) have launched an Independent Corrupt Practice and Other Offences Commission (ICPC) fierce investigation on the 11 distribution companies (DISCOs) in Nigeria


According to the New Telegraph, there have been no clear audit of the DISCO's financials for the past five years since they took over from Power Holding Company (PHCN).

The assets of PHCN were handed over on Friday, November 1, 2013, to investors who had released $1.2 billion (N427 billion).

The DISCO on taking over promised to rescue millions of Nigerians from the jaws of epileptic power supply, decayed infrastructure, crazy billing and other vices that characterized the PHCN years.

The anti-graft agencies have ordered for new owners of the power assets to submit their financials for audit, agreement they signed with the Bureau for Public Enterprises (BPE), which they also obliged and expenses from the time they took over till date.

The New Telegraph said there have been several threats and attempts to compel DISCOs to sack its umbrella body – Association of Nigerian Electricity Distributors (ANED).

The Executive Director of Research and Spokesperson of ANED, Mr. Sunday Oduntan, confirmed the moves by the EFCC, ICPC and FIRS.

He said: “I can confirm to you that the EFCC and ICPC wrote the DISCOs. The FIRS also had their day, but we cannot comment now. We are still watching events as they unfold.”

Another source at the ministry, however, said that the moves were necessary to review how the power assets faired in the five years of being overseen by the DISCOs.

“The move is mandatory to review the five-year performance of the investors. It’s a basic requirement according to the provision of the agreement signed for the November 1, 2013 handover of the asset of the defunct PHCN to the new owners of the assets,” he said. A few months into the fifth anniversary of power sector’s privatisation, the news about bickering between the Federal Government and investors, outshined information, if any, about achievements of the scheme that came with much promises for Nigerians. T he Minister of Power, Works and Housing, personally signed a statement late last July, which revealed his thoughts on the roles played by the DISCOs through ANED in the power privatisation exercise.



“If DISCOs can prove that FGN owes more than what we admit, they should deduct, N72 billion, from N800 billion and pay the remaining N728 billion, which they owe NBET.” The DISCOs, however, declared that actions and inactions of the minister are responsible for their woes. Oduntan maintained that the minister’s relationship with stakeholders is headmaster/ pupils rapport, in which no room is given for sincere collaboration. - ANED

“Under the watch of Mr. Fashola as the minister, the Nigerian Electricity Regulatory Commission (NERC) has conducted no minor review of the Multi-Year Tariff in violation of the law. This has worsened the under recovery in the entire value chain far above N1.1 trillion”. - ANED

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