The Senate Committee investigating the mismanagement of public funds in the Niger Delta Development Commission (NDDC) has recommended the dissolution of the agency’s Interim Management Committee (IMC).
Senator Olubunmi Adetukunmbi who made the recommendation to the Senate Plenary said that the NDDC had spent N1.334trn in five years.
The senator said the NDDC management was spending based on cash accounting and not on the budget. He said mode of “running the accounting system” by the IMC was an aberration to the act of establishing the agency.
He also said the management spent N81.5 bn in three months, which was not spent on development-oriented infrastructure in line with the mandate of the NDDC.