General

Federal Executive Council approves N1billion for forensic audit of NDDC

The Federal Executive Council (FEC) has approved the sum of N1 billion for the forensic audit of the activities of the Niger Delta Development Commission (NDDC).

Minister of Niger Delta Affairs, Godswill Akpabio, made this known when he briefed State House Correspondents on the outcome of Wednesday’s cabinet meeting chaired by President Muhammadu Buhari.

He also informed Journalists that the council also approved the appointment of eight field experts to undertake the audit.

According to the Minister, the field auditors will complement the work of the lead auditors, appointed in March.

He said: “The Ministry of Niger Delta Affairs today presented a memo to the Federal Executive Council and at the end of the deliberations, the memo was approved.

“The memo is basically the appointment of Field Forensic Auditors to undertake the forensic auditing of the Niger Delta Development Commission and the Field Forensic Auditors are going to be designated to go through the states of the Niger Delta region.

“Earlier we had the lead forensic auditor that was approved sometime in March and now we have about eight other forensic auditors who have been approved and they are going to be working in the field in the Niger Delta region.

“One of them is an international group and they will be in charge of programmes and activities at the headquarters and the one is Ernst and Young and so Council graciously considered the memo and approval was given today.”

The Minister further said over N300 million was approved for the initial lead auditors, and over N700 million for the eight newly appointed auditors as payments for their services.

“This has really kick-started the commencement of evaluation of the abandoned projects of NDDC in the last 19 years estimated almost 12 thousand projects.

“At the end we will be in the position to know the ones that could be completed, the ones that will be useful, the low hanging fruits that could be plucked for the benefit of the people of the Niger Delta region,’’ he said.

Akpabio explained that the auditors would evaluate all the 12,000 abandoned projects in the Niger Delta region in the last 19 years.

He also said the result of the evaluation would determine the next line of action on the projects.

 

 

Source: Voice of Nigeria