Alleged N40 billion fraud: Senate probes NDDC Management Committee
Specifically, the Senate said the huge amount was spent within three months by IMC under questionable circumstances.
According to him, while President Muhamnadu Buhari set up the IMC to coordinate forensic auditing of financial transactions carried out by the now-dissolved Board of the commission, reports emanating from IMC, indicate financial recklessness on its part too. He said: “While President Buhari ‘s action of setting up an IMC and the forensic audit may have been conceived to forestall the financial recklessness of the commission and reposition it for fast-tracking of the development of the region, the IMC has been more bedevilled with the same financial misuse, misapplication, misappropriation or outright fraud in the management of the funds of the commission.
“IMC is also alleged to be arbitrarily using executive power to wrongfully sack management staff of the commission without recourse to established civil service rules and practices.
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