Senate says the allegations of financial recklessness and misappropriation of funds levelled against the Interim Management Committee of the Niger Delta Development Commission (NDDC) are unacceptable hence the decision by the Senate to investigate the activities of the Commission.
Senate President Ahmed Lawan made this known in a speech delivered on Thursday to declare open an investigative public hearing by the Senate Ad Hoc Committee on the investigation of the Alleged Financial Recklessness in the NDDC.
Lawan emphasised the prudent application of funds by Ministries, Departments and Agencies of Government in view of limited resources at the disposal of the Federal Government.
He said’ Financial recklessness is not an attribute that anyone can afford, whether rich or poor,or for an Organisation or a country with limited resources
‘This is the reason we have always highlighted the need for prudence in the application of public resources.The time when public resources is seen as nobody’s is long gone.We are in trying times, when we all have to be concerned about judicious use of scarce incomes.
‘The NDDC is an important statutory agency that is supposed to improve the lot of the Niger Delta community.it is therefore unacceptable to hear about inappropriate use of resources,or outright recklessness’
Lawan said the weighty allegations of misappropriation of public funds to the tune of N80 billion by the Interim Management Committee of the NDDC prompted the Senate to investigate the Commission
He urged Stakeholders at the hearing to cooperate with the Ad Hoc Committee adding “the Senate will be fair to all”
Earlier in his welcome address, the Chairman Ad Hoc Committee investigating financial misappropriation of the NDDC, Senator Olubunmi Adetumbi said his Commitee was not set up to witch hunt anybody but to investigate allegations of financial recklessness and misappropriation of the NDDC.
The Ad Hoc Committee of the Senate investigating alleged financial recklessness at the NDDC was formed on Tuesday May 5,2020
Earlier in his welcome address,
