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NDDC Operates 367 Bank Accounts, Says, Onichie, Board Chairman

The Chairman of board of the Niger Delta Development Commission, Lauretta Onochie has made a shocking revelation, saying , the management currently operates 367 accounts against the dictates of the Treasury Single Accounts (TSA).

Onochie who was appointed few months said all these accounts are in foreign exchange (FOREX).

She also accused the Managing Director, Samuel Ogbuku, and the entire management team of running the commission in breach of financial regulations.

She said this on Friday at an investigative hearing by the Senate Committee on NDDC .

She added that unauthorised spending in the commission was alarming.

Onochie also informed the Senate that since the board resumed in January, 2023, it has not enjoyed the cooperation of the management.

She disclosed that the Managing Director had been frustrating attempts to hold board meetings where necessary decisions ought to be taken.

Ogbuku, who was represented by the Executive Director in charge of Finance and Administration, Charles Airhiavere, accused Onochie of over stepping her bounds by desperately seeking to be a signatory to NDDC’s accounts.

He alleged that Onochie had even written a letter to the Accountant-General of the Federation for approval to make her a signatory to the account.

Onochie, however, said the decision for her to be a signatory to the accounts was taken by the board at one of its meetings, adding that it was not a personal decision.

She said the request for change of signatory was rejected because the Central Bank of Nigeria (CBN) directed the Managing Director to ensure that her confirmation is sought in every financial dealing.

“The CBN said I should be the confirming authority but they didn’t come back to me. That is why they have been operating the way they like,” Onochie added.

The Managing Director also denied the existence of 367 accounts in the commission but admitted that it operates only four.

The Senate Committee led by Yusuf Yusuf, expressed shock at the disclosures made by the board and the management of the NDDC.

He directed Onochie and Ogbuku to appear before it on Monday to substantiate their allegations.

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