NDDC demands exemption from TSA as FG insists on corporate governance



The Niger Delta Development Commission NDDC has appealed to federal government for exemption from Treasury Single Account (TSA) to allow free flow of cash for speedy execution of projects in the Niger Delta region .

Delivering a welcome address during the Niger Delta Development Commission Board and Management Retreat held in Akwa Ibom state at the weekend on the theme ” Renewed Hope: A New Era For Vitality, Peace & Development” the Chairman of NDDC governing board Mr Chiedu Ebie appealed to the federal government to take out the commission from Treasury Single Account ( TSA) as such privilege will give them leverage in spending for radical development of the region .

“This is the dilemma we have found ourselves and this cause our former chairmen and Managing Directors to fail in project implementations.

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“We should be considered for more financial aids because our approach to development in Niger Delta must rapid and radical.”

The NDDC board chairman said the commission is ready to sign a performance bond with the supervising Ministry of Niger Delta Affairs to guarantee prudence in their expenditure .

He explained that corporate governance structure will be incorporated in NDDC to ensure sustainability as the commission has transited from transaction to transformation structure.

The Managing Director of NDDC Chief Samuel Ogbuku stated that the Retreat was necessary to bring new energy as the board is committed to show the difference in their operations

The Minister of Niger Delta Affairs Engr Abubakar Momoh while responding charged the management and board members of NDDC to implement recommendations of the Forensic Report which was submitted to the federal government .

Momoh disclosed that the federal government has already commenced the implementation of the recommendations of Forensic Report by constituting the NDDC board as part of the recommendations of the report adding that more should be done while waiting for government white paper on the report

He warned them to perform differently so that the public will see value for government money spent.

He charged the NDDC board and management to harmonize all the development design of the region, collaborate with stakeholders including state government instead of competing with them as well as agree with state governments in the region on where to sight their projects.

“President Bola Tinubu is committed to ensure corporate governance even with appointment of Director of Corporate Governance on the board” he said.

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