NDDC’s Forensic Audit: EFCC Steps In, Questions Financial Director, Eno Ubi, Over N25 Billion Fraud

By Akinwale Kasali

President Muhammadu Buhari may have started the implementation of the report of the long awaited Forensic Audit he ordered at the Niger Delta Development Commission, NDDC.

In the face of allegations of monumental sharp practices and fraud at the intervention Commission since it was set up by the President Olusegun Obasanjo Administration, President Buhari ordered a thorough Forensic Audit spanning from the year of  its establishment.

A window into its implementation may have been opened with the arrest, Wednesday, of the Financial Director of the NDDC, Eno Ubi, by Operatives of the Economic and Financial Crimes Commission, EFCC.

It is not known if Ubi answered to an invitation by the EFCC or was arrested, but he is answering questions at the Commission over an alleged  N25 billion fraud.

The NDDC has been at the center of many alleged financial scandals. It has been described as a conduit pipe for corrupt practices in the region and an ATM for politicians and other high profile stakeholders in the region and all over the country.

Sources within the EFCC who claim anonymity said that details of how the N25 billion was allegedly looted and how it was shared and who the beneficiaries were, are some of the questions begging for answers which Ubi is expected to shed more light on, given his position at the NDDC.

Alleged one source: “What has been uncovered so far is mindboggling. But it is only a tip of the iceberg. Investigations are going smoothly and at the appropriate time, the Commission will tell Nigerians what has been uncovered,” he said.

Recently, President Muhammadu Buhari said his administration has started the  implementation of the NDDC forensic audit report which was submitted to him since September 2021.

He also raised hopes that the much-awaited appointment of the Board of Directors for the Commission would begin soon.

The President gave the assurance at the kick-off of a two-day management retreat organised by the Ministry of Niger Delta Affairs at the Old Banquet Hall, State House, Abuja.

Buhari who was represented  by the Minister of Transportation, Muazu Sambo, said: “In pursuance of our determination to curb corruption and in response to the call of the governors of South-South for a forensic audit of the NDDC, I undertook some critical reforms and requested a forensic audit of the NDDC from inception to 2019.

“The report of the audit has been submitted and implementation of its recommendations has commenced in phases. This process will soon usher in a new Management and Board for the Commission.”