The Senate Committee investigating the alleged mismanagement of funds by the leadership of the Niger Delta Development Commission (NDDC) has advised for the dissolution of the agency’s Interim Management Committee.
Having discovered that the NDDC spent N1.334 trillion in five years without any tangible development being witnessed in Niger Delta, the Nigerian senate committee says it’s best the management is sacked.
In a detailed report which was submitted to the Senate plenary on Thursday by the Chairman, Senator Olubunmi Adetukunmbi said that 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.
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