Skip to content
August 20, 2026
  • Home
  • About us
  • Contact us
  • Newsletter
  • Privacy Policy
Political Economist

Political Economist

A liberal News reporting Politics, Sports, Business, Commentaries

  • Home
  • National News
    • Metro News
      • metro
    • Society
    • Crime and Justice
  • Special Reports
    • Investigation
    • Features
    • Interviews
  • Opinion
    • Commentaries
    • Perspectives
  • Press Releases
  • International News
  • Business & Economy
  • Politics
Watch Online
  • Home
  • Breaking News
  • Nwaoboshi used 11 fronts to defraud NDDC of N3.6bn in one month – Investigation
  • Breaking News

Nwaoboshi used 11 fronts to defraud NDDC of N3.6bn in one month – Investigation

Admin June 7, 2020
Nwaoboshi goes to jail

Seantor Peter Nwaoboshi

Ongoing investigation at the Niger Delta Development Commission, NDDC, has revealed how Senator Peter Nwaoboshi used eleven front companies (owned or traceable to him) to secure a contract of N3.6 billion in September 2016, in what the commission referred to as “perhaps the biggest single case of looting of the Commission’s resources.”

This was contained in a release issued by the commission in which it also cleared the Minister of Niger Delta Affairs, His Excellency Godswill Akpabio, of any misdemeanor as alleged by Nwaoboshi.

Since the forensic audit of the NDDC was ordered by President Muhammadu Buhari, Nwaoboshi, who chairs the Senate Committee on Niger Delta had been fretting over what NDDC insiders called his “many shady deals in the commission.” He was said to have used his influence to corner juicy contracts to himself most of which were not executed.

Below is the full text of the press statement from NDDC:

NDDC AWARDED  NO CONTRACT  TO SENATOR GODSWILL AKPABIO, HONOURABLE MINISTER OF NIGER DELTA AFFAIRS

Our attention has been drawn to a statement by Senator Peter Nwaoboshi, Chairman of the Senate Committee on Niger Delta  that the Niger Delta Development Commission (NDDC) awarded a contract of N500 million to the Honourable Minister of Niger Delta Affairs, Senator Godswill Akpabio, which he did not execute.

The Commission wishes to state that it has searched through its records and there is no evidence of any contract awarded to Senator Akpabio or any company associated with him by the NDDC.

From our findings, the person who has questions to answer to the Niger Delta People is Senator Nwaoboshi. Our records show that Senator Nwaoboshi used 11 front companies (owned or traceable to him) to secure a contract of N3.6 billion in September 2016, in what is perhaps the biggest single case of looting of the Commission’s resources.

The said companies/business names are:

i. Noan Integrated Services;

ii. De Towers Constructions & Allied Services Ltd;

iii. Franstine Nigeria Enterprises;

iv. Edrihide Company;

v. Isumabe U.K. Global;

vi. Benchmark Construction & Allied Services Ltd

vii. Millstone Allied Builders Ltd.;

viii. Nelpat Nigeria Company;

ix. Agh-Rown Ventures;

x. Edendoma Stars International; and

xi. Antlers Construction and Allied Works Ltd.

The inventory records show that these items were supplied and received on Senator Nwaoboshi’s business premises and warehouse. Meanwhile, the contracts were awarded to him.

However, some of the items supplied to Nwaoboshi’s warehouse through his cronies, were later resold to the Delta state government, while the others were sold to other states through contracts awarded to him.

All supply agreements were signed by one and the same person being Mr. Agbamuche Nelson, traceable to Senator Nwaoboshi. This is in flagrant contravention of section 58(4) (a) and (d) of the Public Procurement Act. No wonder Sen. Nwaoboshi and his cohorts are jittery about the ongoing forensic audit exercise in the NDDC and are doing everything possible to derail it.

We believe that until Senator Nwaoboshi can absolve himself of his role in the looting of the resources of the Commission, he should step aside from any investigative activity against the Commission.

NDDC deserves the freedom to deliver on its mandate.

Charles Obi Odili

Director

Corporate Affairs, NDDC.

  • Facebook
  • Share on X
  • LinkedIn
  • WhatsApp
  • Email
  • Copy Link
Tags: Godswill Akpabio

Post navigation

Previous Nigeria records 9 new coronavirus deaths in 7 States in the last 24 hours
Next Nigerians berate Presidency over attack on IPOB and silence on Miyetti Allah

Related Stories

Landmark $1B Underwriting Deal Paves Way for Record-Breaking Dangote Refinery IPO refinery
  • Breaking News
  • National News

Landmark $1B Underwriting Deal Paves Way for Record-Breaking Dangote Refinery IPO

August 18, 2026
BREAKING: Jubilation as Adeleke wins Osun election by 511,067 votes
  • Breaking News

BREAKING: Jubilation as Adeleke wins Osun election by 511,067 votes

August 16, 2026
BREAKING: Tinubu directs EFCC to vacate the court order freezing Osun account, calls Gov Adeleke
  • Breaking News

BREAKING: Tinubu directs EFCC to vacate the court order freezing Osun account, calls Gov Adeleke

August 6, 2026
logo

Political Economist is a liberal news magazine with global affiliations.

At Political Economist, we promote free enterprise and act as a catalyst for the growth of knowledge economy. We are proudly pan-Nigeria yet richly spiced with African and global news. We offer a fair and balanced news reportage presented by our team of well-heeled professional journalists. <

About us

  • 5 Olutosin Ajayi Street, By CPM Church, Ajao Estate, Lagos State, Nigeria
  • +234 805 680 1124
  • info@politicaleconomistng.com

Follow

Subscribe to notifications

You may have missed

Understanding CBN’s mandates and policy thrusts, by Arize Nwobu
  • Business & Economy

Understanding CBN’s mandates and policy thrusts, by Arize Nwobu

August 20, 2026
Shell reinforces safety commitment at CEO Contractors Forum
  • Business & Economy

Shell reinforces safety commitment at CEO Contractors Forum

August 20, 2026
Tension grips Osun as gunmen attack Gov Adeleke’s convoy, gunshots send locals scampering to safety
  • Crime and Justice

Tension grips Osun as gunmen attack Gov Adeleke’s convoy, gunshots send locals scampering to safety

August 20, 2026
FCTA reseals orphanage for illegal operation, alleged child trafficking children
  • National News

FCTA reseals orphanage for illegal operation, alleged child trafficking

August 19, 2026
  • Home
  • About us
  • Contact us
  • Newsletter
  • Privacy Policy
Copyright © All rights reserved. | DarkNews by AF themes.