Aba Power Project: Namadi Sambo DeniesVested Interest on Interstate Electrics' Acquisition of Enugu Disco

Former Vice President, Mohammed Namadi Sambo has denied the allegation that he unduly favoured Interstate Electrics Limited in the acquisition of Enugu Electricity Distribution Company (Enugu Disco), during the privatisation of the power sector that took place when he served as the Chairman of the National Council on Privatisation (NCP).

A statement issued yesterday by the Principal Private Secretary to the former Vice President, Mr Yinka Ibrahim, described the allegation as frivolous, irresponsible and mischievously orchestrated to discredit his hard-earned reputation.

"For the records, in the almost five decades of his public service career, Sambo served diligently to the best of his ability and never used his capacity or office for personal gains or for the benefit of his friends and associates.

"Under his leadership, the National Council on Privatisation followed due process in selling government enterprises to successful bidders," the statement explained.

The statement also added that: “The former Vice President had no vested interest in Interstate Electrics or any other privatised entity by the National Council on Privatisation under his watch."

The statement insisted that the entire process of the privatisation was conducted in accordance with the Nigerian laws.

"For the avoidance of doubt, all records of privatisation process are available for verification.

“Interestingly, Prof. Barth Nnaji, the owner of Geometric and the promoter of the Aba Power Project, was the Minister of Power and member of the privatisation council during the period under review.

“Prof Barth was not only part of the decision-making process but led the implementation of all decisions as related to the power sector," the statement added.