• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Recapitalization
      • Access Holdings Offer
      • Fidelity Bank Offer
      • GTCO Offer
      • Zenith Bank Offer
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Nairalytics
  • Economy
    • Business News
    • Budget
    • Public Debt
    • Tax
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Public Offer & Right Issues
      • Stock Market News
    • Fixed Income
    • Funds Management
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Market Views
    • Op-Eds
    • Research Analysis
  • Home
  • Exclusives
    • Recapitalization
      • Access Holdings Offer
      • Fidelity Bank Offer
      • GTCO Offer
      • Zenith Bank Offer
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Nairalytics
  • Economy
    • Business News
    • Budget
    • Public Debt
    • Tax
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Public Offer & Right Issues
      • Stock Market News
    • Fixed Income
    • Funds Management
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Market Views
    • Op-Eds
    • Research Analysis
Nairametrics
Home Business News Politics

NDDC Probe: Senate orders IMC to refund N4.9 billion illegal payments

Chike Olisah by Chike Olisah
July 23, 2020
in Politics
National Assembly approves Federal Government’s plan to borrow $11 billion in 2021, Senate urges FG to diversify from crude oil to natural gas production , Senate seeks textile importation ban , Senate receives six aviation sector bills from Buhari , PenCom: Constitute a board, NASS and pension operators tell FG, Nigeria’s total debt now N33trn —Senate, Senate confirms appointment of board members for NDIC, law reform commission, Senate to confirm reappointment of Danbatta as NCC boss, Senate investigates claims of NELMCO, AEDC over govt asset, Senate Investigate Banks over customers exploitation and high fees, 2021 Budget: Senate sets motion for budget defense, commences 2020 review, #EndSARS: States affected by hoodlums should get 1% VAT - Senate, Senate approves National Emergency Medical Services Agency, State House clinic: FG has budgeted N3.5 billion for State House Clinic since 2017
Share on FacebookShare on TwitterShare on Linkedin

The senate has asked the Interim Management Committee (IMC) of the Niger Delta Development Commission (NDDC) to refund the N4.923 billion alleged illegal payments made to staff of the commission and contractors in breach of the procurement process.

The upper chamber said that this refund should be made to the account of NDDC with immediate effect.

According to a report from News Agency of Nigeria (NAN), this resolution was sequel to the adoption of recommendations of the Senate Ad-hoc Committee, investigating the alleged misappropriation of N40 billion by the current IMC.

MoreStories

Governor Sanwo-Olu to be honoured at Nairametrics Capital Market Awards for positioning Lagos as West Africa’s financial hub 

Sanwo-Olu says Lagos state failed to achieve 10,000 CCTV installation plans

January 30, 2026
Appeal Court dismisses Governor Fubara’s request to restore N800 billion budget passed by four lawmakers 

Impeachment: Rivers Chief Judge refuses to set up panel to probe Fubara

January 22, 2026

READ ALSO: NDDC probe: House of Reps to sue Akpabio for perjury

The recommendation of the committee was presented on the floor of the senate by its Chairman, Senator Adetunbi.

A breakdown of the refund which the senate wants refunded includes Overseas Travel to the United Kingdom N85.7million, Scholarship grants N105.5 million, Union Members’ trip to Italy N164.2 million.

The other refunds which the senate wants made to the NDDC’s Account by the IMC are: payment made for Lassa Fever Kit N1.96 billion, payment for Public Communication valued at N1.12 billion, and COVID-19 fund expenditure N1.49 billion.

READ MORE: Chairman of NDDC probe committee on N40 billion corruption allegation steps aside

Some of the other recommendations which were approved by the senate are

  • That all expenditures on historical contracts and obligations like hotels, court judgment among others be refunded, as the payments were not provided for in the budget.
  • That henceforth, the NDDC should report directly to President Muhammadu Buhari.
  • That the President should dissolve the IMC and set up a board for the commission.
  • That oversight of the forensic audit should be transferred to the Office of the Auditor-General of the Federation, to ensure transparency. The Senate asked the Federal Government to appoint a renowned auditor to supervise the forensic audit.
  • The strengthening of the NDDC’s procurement department through appropriate staff engagement, by appointing staff with procurement chartered status, improved staff training among other policies on procurement process.
  • A review of the corporate social responsibility of the NDDC, adding that it was difficult to find a correlation between the Niger Delta community development and the cash invested in the zone.

According to the upper legislative chamber, the continued cash injection in the Niger Delta has not worked under the various Interim Management Committees.

READ ALSO: NDDC Probe: Reps give Akpabio 48 hours to publish names of lawmakers who got contracts

The senate while asking for government’s intervention, wants them to do away with the IMC and properly constitute a board with a specific mandate to address the problems in the Niger Delta

The Senate harped on the need for government to intervene, by stepping down the IMC and properly constitute a board with specific mandate, to address the pains of the Niger Delta people.

READ MORE: UPDATE: SEC has constituted an interim management team for Oando Plc

It can be recalled the Senate and the House of Representatives have been having a running battle with members of the IMC for NDDC and the Minister of Niger Delta Affairs, Godswill Akpabio over the affairs of the commission.

The 2 chambers of the national assembly had set up ad-hoc committees to investigate the alleged mismanagement of N40 billion by the IMC within a period of 3 months


Add Nairametrics on Google News
Follow us for Breaking News and Market Intelligence.
Tags: IMCInterim Management CommitteeNDDCNigeria News
Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

Next Post
Lagos seals 13 banks, 13 hotels, 17 others on Airport road

Lagos seals 13 banks, 13 hotels, 17 others on Airport road

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

rabafast
NLNG

access bank
nairametrics








DUNS

Follow us on social media:

  • HOME
  • ABOUT NAIRAMETRICS
  • CONTACT US
  • DISCLAIMER
  • ADs DISCLAIMER
  • COPYRIGHT INFRINGEMENT

© 2026 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Recapitalization
      • Access Holdings Offer
      • Fidelity Bank Offer
      • GTCO Offer
      • Zenith Bank Offer
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Nairalytics
  • Economy
    • Business News
    • Budget
    • Public Debt
    • Tax
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Public Offer & Right Issues
      • Stock Market News
    • Fixed Income
    • Funds Management
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Market Views
    • Op-Eds
    • Research Analysis
  • Login
  • Sign Up

© 2026 Nairametrics