President Muhammadu Buhari has finally received the much-awaited final report of the forensic audit of the Niger Delta Development Commission (NDDC).
The report was received by the Minister of Justice and Attorney General of the Federation (AGF) Abubakar Malami on behalf of President Buhari.
Handing over the report to Buhari, Thursday in Abuja, the Minister of Niger Delta Affairs, Sen. Godswill Akpabio disclosed that the auditors have concluded the examination and documentation of a total 13,777 contracts for
projects and programmes awarded to Contractors and consultants in all Niger Delta States from 2001-August 2019, at a total final contract value of N 3,274.206,032,213.24.
According to Akpabio, the name and identity of a vast number of beneficiary companies were also
captured as well.
His words: “Via Field Verification, the Forensic Auditors established the exact status of all contracts for projects and programmes in all constituent states during the period under review classified into completed, ongoing, abandoned, terminated, taken-over and non-existence.”
The Minister disclosed that the auditors also focused on funding gaps, Irregularities, mismanagements and Due Proces Violations/Conflicts of interest.
He went on: “A Personnel Audit and Review of the governance and organisational structure of NDDC was also carried out.
An operational guideline/Manual and a fit-for-purpose organogram that would aid the transformation of NDDC to a globally competitive development agency has been developed as well.
“Available financial records of the commission were analysed with the aim of establishing the total amount of funds received by the Commission from all sources, both statutory and non-statutory and
the total funds and other resources paid to contractors as well as the total amount outstanding as debts with regards to such projects within the period under reference.
“The Auditors have also provided policy recommendations, in
terms of measures that should be taken to ensure the prevention of such irregularities and mismanagement, going forward.
“With utmost respect Sir, I crave the indulgence of Your Excellency that
after my speech, the Lead Forensic Auditors will present to you a quick summary of their Findings and Recommendations.”