The Federal Government on Thursday disclosed how the Niger Delta Development Commission “substantially compromised” the execution of over 13,777 projects being handled by the commission, despite collecting over N6trillion in eight years.
The Attorney General of the Federation and Minister of Justice, Abubakar Malami, who said this while receiving the forensic audit report of the NDDC from the Minister of Niger Delta Affairs, Godswill Akpabio, in Abuja on Thursday, also revealed that the commission has about 362 bank accounts that lack proper reconciliation.
According to the Minister, the essence of the forensic audit was to ensure accountability in the use of public funds, adding that the government was particularly concerned about the huge losses recorded by the commission over the years as a result of uncompleted unverifiable development projects embarked upon in the Niger Delta region.
“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, Malami quipped. Adding, “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.”
He further stated, “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.
He said that considering the enormous amount of funds being channeled to the commission since 2001, it was therefore imperative for the public to be properly informed of what and how the monies have been utilized.
Malami pointed out that the whole essence of the forensic audit is to ensure probity and accountability in the use of public funds, adding that the Federal Government is duly committed and duty bound to see to the full implementation of all aspects of the audit exercise in order to promote probity, accountability and prosperity for all.