EFCC ‘ll investigate $3.8bn Egina FPSO project

The Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr Ibrahim Magu, has disclosed that the commission will look into the award of $3.8billion to build Egina Floating Production Storage Offloading (FPSO) platform to Samsung Heavy Industries.

Speaking while receiving a petition from two civil society organizations, Nigerian Young Professionals Forum (NYPF) and the Connected Development (CODE) at the EFCC office, in Abuja on Tuesday, the EFCC boss assured the petitioners that the EFCC as a commission
would consider the allegations raised in the petition and subject them to test and consequent investigation.

The contract to build the $3.8 billion Egina FPSO project was awarded by the Nigerian National Petroleum Corporation (NNPC) in 2013 to Samsung Heavy Industries.

The petition was signed by NYPF’s Chairman, Moses Siasia and the Chief Executive Officer of CODE, Hamzat Lawal.

Speaking on behalf of Magu, the EFCC’s Head, Media and Publicity, Wilson Uwujaren, who received the petition said: “I want to 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 duly 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.