Senate Committee investigating the alleged financial
recklessness in the Niger Delta Development Commission (NDDC) has recommended
the dissolution of the agency’s Interim Management Committee.
In a detailed report which was submitted to the Senate
plenary on Thursday by the Chairman, Senator Olubunmi Adetukunmbi, it was
revealed that the NDDC spent N1.334 trillion in five years.
He said the IMC was involved in reckless spending where they
spent based on “cash accounting”, and not based on the “budget”.
According to him, the mode of “running the accounting
system” by the IMC was an aberration to the act establishing the agency.
He said the IMC spent a whooping sum of N81.5 billion in
three months, lamenting that the money was not spent on development oriented
infrastructure in line with the mandate of the NDDC.
The report also recommended that the NDDC be returned to the
presidency for supervision with the setting of supervisory board by governors
of the nine Niger Delta States.
Details later….
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