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NDDC Received N6trn in 8 years, Runs 362 Bank Accounts – FG

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The Federal Government has raised concerns that over 13,777 projects handled by the Niger Delta Development Commission with their execution “substantially compromised.”

The government also said the NDDC has about 362 bank accounts without proper reconciliation.

This was disclosed by the Attorney General of the Federation and Minister of Justice, Abubakar Malami, as he received the final report on the forensic audit of the NDDC from the Minister of Niger Delta Affairs, Godswill Akpabio, on Thursday, in Abuja.

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Malami reiterated government’s concerns on a colossal loss as result of uncompleted and unverified development projects in the Niger Delta region, despite the release of about N6trillion to the NDDC in eight years.

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Malami said the forensic audit was to ensure accountability in the use of public funds.

He said;

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“It is on record that between 2001 and 2019, the Federal Government has approved N3, 375, 735,776,794.93 as budgetary allocation and N2,420,948,894,191.00 as Income from Statutory and Non Statutory Sources, which brings the total figure to the sum of approximately N6 trillion given to the Niger Delta Development Commission.

“The Federal Government is particularly concerned with the colossal loss occasioned by uncompleted and unverified development projects in the Niger Delta region, in spite of the huge resources made available to uplift the living standard of the citizens.

“We have on record over 13,777 projects, the execution of which is substantially compromised. The Federal Government is also concerned with the multitudes of Niger Delta Development Commission’s bank accounts amounting to 362 and lack of proper reconciliation of accounts.”

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“The essence of the forensic audit is to ensure probity and accountability in the use of public funds. It is against this background that the Federal Government will without hesitation strategically implement all aspects of the audit exercise that will promote probity and greater prosperity for the Niger Delta Region and Nigeria as whole,” he asserted.

Malami said it was clear that considerable resources have been channelled by the Federal Government to the development of the Niger Delta from 2001 to 2019.

Malami added that the Petroleum Industry Act recently signed into law was to “to bring about the prudence and accountability in the Petroleum Sector and to give a sense of participation and ownership to the Host communities.”

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