Top officials of the Niger Delta Power Holding Company (NDPHC) have been arrested by the Economic and Financial Crimes Commission (EFCC) for alleged N50billion fraud.

The detained officials are Mr. Marvel Emefiele, head Finance of NDPHC and Mr. Eze Odigbo, Head Compensation of the power company.

Managing Directors of two contracting firms, namely, Mr. Richard Ayibiowu of Pivot Engineering, and Mr. Christain Ejik Imoka of Chris Ejik Nigeria Limited, have also been detained by EFCC, according to a report this morning by the Abuja-based LEADERSHIP newspaper.

It said that the arrests “followed President Muhammadu Buhari’s resolve to probe the $16 billion the federal government under the administration of former President Olusegun Obasanjo, his successor, the late Musa Umar Yar’Adua and ex-President Goodluck Jonathan spent on some power projects.”

“Emefiele and Odigbo were alleged to be involved in bogus payment and diversion of about N850 million compensation to communities where the components of the power projects were sited.

“The detained officials were said to have failed to honour previous invitations by the EFCC,” the report said.