How NDDC executives Squandered N1.16trn allocation in 20 years
Isa Sadiq Raddah, member of the Presidential Advisory Committee Against Corruption, PACAC, has revealed how the Niger Delta Development Commission, NDDC, got over $40 billion allocation in 20 years with nothing to show for it.
Speaking at a workshop in Sokoto, Raddah, who is also a member of the commission’s forensic audit committee, said about 12,000 projects which were paid for through the agency were abandoned.
The PACAC member further added that 1,700 contractors got mobilisation fees from NDDC and vanished without executing the projects.
Raddah’s revelation is coming barely twenty-four hours after the Senate probe panel investigating alleged financial recklessness in the NDDC disclosed that billions of naira were aimlessly squandered under the Kemebradikumo Pondei-led leadership.
“NDDC for 20 years has gotten over $40 billion. And when you calculate $40 billion into naira, we are talking of N1.16 trillion”, Raddah stated.
“But the entire money was taken away by their young people, their leaders, their agitators, their activists and now the Niger Delta is as bad as many of the rural areas you find in Northern Nigeria.
Not because they don’t have the money but you can now see simply because there is corruption,” Raddah submitted.
Speaking further, the PACAC member also submitted that had corruption not eaten deep into the fabrics of the NDDC, neighbouring countries would have been benefitting from the commission.