By Levinus Nwabughiogu
ABUJA—House of Representatives, yesterday, resolved to set up an adhoc committee to investigate the activities of the Transmission Company of Nigeria, TCN, for the past 10 years.
Essentially, the investigation bothers on foreign loans of $1.5 billion and contract processes of $500 million awarded by the company.
The decision was sequel to a motion, entitled, “Need to Investigate the Violations of the Constitution, the Fiscal Responsibility and Public Procurement Acts by Transmission Company of Nigeria, TCN, Over Foreign Loans of $1.5b and $500m for its Operations and Contract Processes,” sponsored Simon Arabo.
Moving the motion, Arabo reminded the House that due process was not followed in the procurement of the facilities, adding that the loans were utilised without the appropriation of the National Assembly, contrary to…
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