Forensic Audit Report : FG to prosecute looters of N6Trn allocated to NDDC

* Recommends recovery of $4bn from oil companies
*Recommends  Part-time Board 

The federal government has received the much awaited Forensic Audit Report of Niger Delta Development Commission (NDDC) from the lead audit firm that looked into its affairs from inception in 2001 to 2019  .

Unimpressed  by the revelations contained in the Forensic Audit Report the federal government on Thursday vowed to prosecute those who mismanaged approximately N6 Trillion given to the Commission.

President Muhammadu Buhari received the NDDC forensic audit report presented by Minister of Niger Delta Affairs, Senator Godswill Akpabio through the Attorney General of the Federation and Minister of Justice Abubakar Malami (SAN). He said that “the Federal Government will also apply the law to remedy to the deficiencies outlined in the audit report.”
“As appropriate this will include but not limited to initiation of criminal investigations , prosecution, recoveryof funds not properly utilized for the public purposes for which they were meant for. In all these instances of action legal due processes will strictly be complied with” he added.
The federal government is particularly concerned with the colossal loss occasioned by uncompleted and unverified development projects in the Niger Delta Region in spite of the huge resources made available to uplift living standard of the citizens.
Further lamenting the loss, the President noted that there are ” on record over 13,777 projects, the execution of which is substantially compromised.” 
“The federal government is also concerned with the multitude of Niger Delta Development Commission’s bank accounts amounting to 362 and lack of proper reconciliation of accounts,” he said.
He assured the public that the essence of the Forensic Audit is to ensure probity and accountability in the use of public funds. Therefore the government will strategically implement all aspects of the audit exercise that will promote probity and greater prosperity for the region.

President reiterated his administration determination to address challenge militating against an efficient and effective NDDC that would achieve it’s mandate.

Earlier while giving an overview of the forensic audit report, the lead forensic auditor, Alh Kabir Ahmed said efforts should be made to reconcile and recover the sum of $4 billion outstanding 3% contribution from oil producing companies in the region.
The report, he said wants the NDDC establishment Act to be amended to accommodate the deduction of 50% ecological funds due to member states of the Niger Delta Region at source by the Federal Government and such deduction should be remitted immediately to the commission.
The report also recommended that the amendment of NDDC Act  should be made to enable the Federal Inland Revenue Service (FIRS) collect all revenue due to the commission from oil companies on behalf of the commission.
The Forensic Audit Report prepared by firm of Oluwmuyiwa Basieu and Co the lead consultant and 16 other audit firms between October 14, 2020 and September 2,2021 also recommended the review of the master plan of the NDDC  to reflect the present realities and thinking which   should be carried out every five years.
“That the provisions of the Public Procurement Act (PPA) should be strictly adhered to and all violations to the Act, such as contract splitting and other due process violations must be avoided”, the report recommended among others.
Presenting the report the Minister of Niger  Delta Affairs, Senator Godswill Akpabio commended the report. He said that if fully implemented will transform the institutionfrom the one that is currently heavily politicized to the one that will be highly depoliticise with clear objective for developing the region.

 He listed some recommendations about 25 contained in the Forensic Audit Report  including the holding of all staff of the NDDC both present and former  who split contracts accountable .