The Managing Director of Niger Delta Development Commission, NDDC, Dr Sam Ogbuku, said that the Commission has started receiving some of the money recovered from the International Oil Companies, IOC, by the Economic and Financial Crimes Commission, EFCC.
The EFCC had gone after some IOCs that had refused to remit its contributions to the NDDC.
Dr Ogbuku who disclosed this in Port Harcourt at an interactive session with journalists said that while the Commission is still receiving the funds, it is also reconciling with the IOCs to determine exactly what has been recovered.
“They have actually started paying this money back to NDDC. They are still receiving the funds, however, we are trying to do reconciliation with the IOCs to determine exactly how much that EFCC has recovered. It’s our responsibility on behalf of the people of the region to do the reconciliation on how much has been recovered on behalf of NDDC from the IOCs,” he said.
He stated that establishing an effective and sustainable corporate governance system as well as Key Performance Indicators, KPI’s in the commission will be a game changer.
He noted that having an effective corporate governance system in place was key to the future successes and sustainability of the NDDC.
He affirmed that the commission was laying a solid foundation for impactful development of the Niger Delta region; strengthening Public-Private Partnerships and ensuring that its projects and programmes were aligned with the needs and aspirations of the people of the region.
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