NATIONAL: Reps panel dismisses missing N100b allegation in NEDC as ‘unfounded

THE House of Representatives panel saddled with responsibility of investigating the alleged mismanagement and diversion of N100bn in the North East Development Commission has said no fund is missing.

The panel gave the commission clean bill of health in an extensive report that detailed its findings.

The joint House Committees on Finance, North East Development Commission, and Public Procurement laid their report at the plenary on Tuesday.

Chairman of the Committee on Finance, James Faleke, presented the report.

Following the allegation of financial malfeasance that rocked the Niger Delta Development Commission early this year, the House resolved to investigate the NEDC over alleged disappearance of N100bn released to it by the Federal Government.

The resolution, which was made on July 23,2020, was based on a motion moved by the Minority Leader, Ndudi Elumelu, titled, ‘Need to Investigate the Alleged Sleaze and Misappropriation of N100bn at the North East Development Commission’.

Consequently, the House mandated the Committees on Finance, Procurement and NEDC to “exhaustively investigate these allegations and report back in eight weeks.”
But presenting its findings, the committees, in the report, said, “The allegation was unfounded and a misrepresentation of facts as no corrupt practices existed in the North East Development Commission;
“Commend the North East Development Commission for its due diligence in the execution of the projects; and
“Urge the Federal Ministry of Finance to release the outstanding sum of N52,704,089,014.25 only due to the commission for effective execution of its projects.

“The commission should expedite action in the utilisation of the sum of N75,544,957,257.54 only already released to the commission during the 2020 fiscal year.”

The House, however, rescheduled consideration of the report to Wednesday.(today).