The Senate has alleged that the management of the Niger Delta Development Commission, NDDC, spent the sum of N100 billion without justification for it.
Speaking during a Committee meeting, the Senate Committee Chairman on Public Accounts, Senator Matthew Urhoghide, who said the Committee had invited the NDDC to appear before it on Wednesday, further alleged that the Commission does not have records of financial transaction.
The Senate Committee is relying on special periodic checks on the activities and programmes of the NDDC for the prior 1st January 2013 to 30th June, 2018.
“We have invited NDDC to come, they dont have records of financial transaction. They will appear before us on Wednesday.
“It is painful that N100 billion were spent without justification for it.
“We equally invite them for status enquiry on all revenue into their accounts. We are waiting for the NDDC, if they don’t come, we will take necessary action against them.
“Contrary to the terms and agreement some of the contractor’s bolter away after collection of the mobilization fees.
“The surprising aspect of it was that this practice involved 626 contractors in which the sum of N61.4 billion was lost to fraudulent practices.”