Internal Capital Expenditure

The last is yet to be heard about the entrenched corruption in the Niger Delta Development Commission (NDDC) as the office of the Auditor General of the Federation (oAuGF) queried the Commission over N70 billion and secrecy shrouded in the multi-million dollar revenues paid by oil firms into the coffers of the Commission since inception. The query was part of numerous audit query issued by the oAuGF including the sum of N31.453 billion ‘some payment of 2012 not verified due to non-presentation of payment vouchers and bank mandates; non-remittance of N29 billion before 2008; N5.69 billion payment vouchers from Access Bank Account Number 0015078045 not presented for audit, and payments by unrecognized oil companies into the Commission’s final accounts to the tune of N3,280,818,832, among oth...