According to report reaching OYOGist.com, the Senate Committee which was set up to probe the financial misappropriation in the Niger Delta Development Commission (NDDC) has reached a solution concerning the saga. The committee has prescribed the dismissal of the NDDC’s Interim Management Committee as a possible solution.
A detailed report was submitted on Thursday to the Senate plenary by the Chairman, Senator Olubunmi Adetukunmbi. It illuminated the fact that NDDC spent about 1.3 trillion naira in just five years.
He also emphasized that the Interim Management Committee (IMC) spent the funds carelessly and the expenses were not based on the “budget”, but based on “cash accounting”.
According to him, the mode of “running the accounting system” by the IMC was an aberration to the act establishing the agency.
He also said the about 81.5 billion naira was in three months and the money was not used for the development-oriented infrastructure in accordance to the mission of the NDDC.
