In order to alleviate the sufferings of the oil producing communities of the state, the Imo State Government in 2007 established an interventionist agency called the Imo State Oil Producing Areas D...
In order to alleviate the sufferings of the oil producing communities of the state, the Imo State Government in 2007 established an interventionist agency called the Imo State Oil Producing Areas Development Commission. It was modelled after the federal interventionist agencies such as the Niger Delta Development Commission and the North East Development Commission.
It was also revealed that only 44 transactions under the sub-head of unexplained expenditure and online transfers were carried out in 12 years while 88 of such illegal transactions were carried out in less than eight months The report also showed that the overall expenditure profile of ISOPADEC within the period under review witnessed an unprecedented high in seven months than in any single year in 12 years.
In short, the report gave a breakdown of the unaccounted N12.272bn as comprising of N9.611bn from statutory allocation, miscellaneous inflows of N2.203bn, N410.721m deductions and N48.1m gifts to staff. The report however recommended that the state government should take steps for the immediate recovery of the misappropriated sums.
The Nigerian Voice newspaper of January 15, 2020 also reported that about 50 youths suspected to come from oil producing areas of Imo State descended on the headquarters of ISOPADEC on January 14, 2020 allegedly carting away TV sets, laptops, fridges, bags of rice meant for distribution, and money worth hundreds of millions of naira.
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