EFCC to investigate $3.8b Egina FPSO project, says Magu

0

Economic and Financial Crimes Commission (EFCC) Acting Chairman Ibrahim Magu has said the commission will look into the award of $3.8 billion to build Egina Floating Production Storage Offloading (FPSO) to Samsung Heavy Industries (SHI).
The contract to build $3.8 billion Egina FPSO project was awarded by the Nigerian National Petroleum Corporation in 2013 to SHI.
He made the promise when two civil society organisations, Nigerian Young Professionals Forum, (NYPF) and Connected Development (CODE) submitted a petition at the EFCC office in Abuja yesterday.
The petition was signed by NYPF’s Chairman, Mr. Moses Siasia and the Chief Executive Officer, CODE, Hamzat Lawal.
The petition was received by EFCC’s Head, Media and Publicity, Wilson Uwujaren, on behalf of Mr. Magu.
Magu assured the petitioners that the EFCC would consider the allegations raised in the petition and subject them to test.
He said: “I assure you that we will take this petition through the normal process through which we receive petitions in the commission.
“For us, this is merely an allegation, but we will subject it to test and if it is worthy of investigation, the commission will investigate it and you will get to know our findings.”
In the petition, Siasia and Lawal called for a thorough investigation into alleged irregularities surrounding SHI and Samsung Korea and their involvement in the Egina FPSO project.
According to them, the investigation should include the estimation of the resulting losses to Nigeria’s economy.