The Federal Executive Council (FEC) on Wednesday, endorsed the appointment of a lead consultant for the forensic audit of Niger Delta Development Commission (NDDC).
Godswill Akpabio, Minister of Niger Delta Affairs, made the disclosure after the FEC meeting directed by Vice President, Yemi Osinbajo.
President Muhammadu Buhari, last December, directed the NDDC Interim Management Team to stay in office until the audit is completed.
In a visit with journalists, Akpabio said the cost of the audit is about N318 million and Messrs Olumuyiwa Bashiru and co were appointed the lead consultant.
The estimated period given by the Bureau of Public Procurement to finish up the activity was nine months.
Akpabio reviewed that nine governors met with the President in October 2019 and requested a forensic audit of the NDDC.
“Obviously, because of the fact that we have not had value for the money expended in that commission since inception”, he noted.
“And so, the forensic audit will cover from 2001 all the way down to 2019 and we are going to have other forensic auditors joining the lead; we are treating each of the states as a lot.
“So, likely we are going to have a consortium of about nine other forensic auditors; one of which will be in the head office to handle programmes and financial audit, personnel and all others,”he included.
The minister said it must have “an international flavour in case there are monies that may be denominated in dollar to be recovered after a forensic exercise”.