The Niger Delta Development Agency (NDDC) spent N1.3 trillion in four years, according to Senate report.
The money was spent between October 2015 and May 2019, it added.
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The report was presented during Plenary Thursday by the Senate Ad hoc committee that probed allegation of financial recklessness by the Interim Management Committee (IMC) of the commission.
The panel, chaired by Olubunmi Adetunmbi (Ekiti North), said the management of the agency spent money according to the availability of cash without recourse to budgetary provision.
Adetunmbi said aside their salaries, several allowances were paid to NDDC staff members in a questionable manner.
He said the management of the commission spent N4.9 billion on medical check up.
Adetunmbi said the panel was not surprised that the N81.5 billion the commission spent between October 2019 and May 2020 was not development oriented.
He listed extra budgetary spending of the agency during the period to include; overseas travel to the United Kingdom, N85.7 million; scholarships grants, N105.5 million; union members trip to Italy, N164.2 million; Lassa Fever Kit, N1.96 billion; Public Communication, N1.12 billion and COVID-19 Relief, N1.49 billion.
The committee, therefore, recommended the refund of N4.923 billion payment made to staff and contractors in breach of procurement process and approval to the NDDC account with immediate effect.
It also recommended that the IMC should be dissolved immediately to pave the way for the board of directors to take over.
It noted that the Ministry of Niger Delta Affairs, which supervises the commission, was culpable of negligent supervision.
“The Ministry of Niger Delta Affairs is culpable of negligent supervision and could not function as effectively as a board would have done.
The committee also recommended that the interventionist agency should be reconsidered to report directly to the Presidency in view of the huge resources allocated to it.
“For the purpose of consistency and equality of policy, there is a need to review the inconsistencies and differences in the apex control of these development commissions.
“In retrospect, the original arrangement of putting these commissions in the Presidency should be carefully reconsidered to allow for direct Presidential oversight in view of the huge public resources allocated to them,” the report said.