Alleged N40bn Fraud: Senators receive update on probe of NDDC

The Senate ad-hoc committee investigating the N40 billion corruption allegation against the Niger Delta Development Commission (NDDC) has presented

The Senate and the House of Representatives are probing an allegation that the Interim Management Committee of the NDDC squandered N40 billion within three months.

The NDDC management had said that the Senate investigation was instigated by people who want to scuttle the planned forensic audit of the commission. The NDDC spokesperson, Charles Odili, in the statement, said Mr Nwaoboshi used 11 companies as fronts to secure for himself a N3.6 billion contract in September 2016.

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