NDDC: Senate probes IMC over alleged squandering of N40bn vanguardnews
THE Senate has begun probe into alleged financial recklessness to the tune of N40 billion by the Interim Management Committee, IMC, of the Niger Delta Development Commission, NDDC.
The Committee, which has four weeks to report back at plenary, will also look into all procurements and financial transaction of the commission in this fiscal year and any other matter that is not in accordance with the provision of the NDDC Establishment Act, 2000 or any other extant law.
According to him, the “Senate believes that while the President’s action of setting up an IMC and the forensic audit may have been conceived to forestall the financial recklessness in the commission and reposition it for fast tracking of the development of the region, the IMC has been more bedeviled with the same financial misuse, misapplication, misappropriation or outright fraud in the management of the funds of the commission.
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