Politics Obasanjo,Yar'Adua Administration Owing NDDC N700billion

[abujagirl]

VANGUARD has a report which claims that the administration of Former president Olusegun Obasanjo and late President Umaru Yar'Adua is owing the Niger Delta Development Commission, NDDC, N700billion.

THE Niger Delta Development Commission, NDDC, said yesterday that the Federal Government was owing it N700 billion.

It however, stated that the debt accumulated during the administration of former President Olusegun Obasanjo and his successor, late Umaru Musa Yar’Adua.

NDDC Managing Director, Bassey Dan Abia made this known in an interview with newsmen in Port Harcourt, adding that as a result of the huge debt, the commission had over N300 billion worth of Interim Payment Certificates, IPC, which it was unable to redeem.

Abia who spoke through his Special Assistant on Youths, Culture and Sports Affairs, Mr George Turner, however, hailed President Goodluck Jonathan for not owing the commission a kobo at the moment.

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SOURCE: #VANGUARD

#NDDC #Obasanjo #Yar'Adua


http://www.vanguardngr.com/2015/03/obasanjo-yaradua-made-nddc-n700bn-poorer/

 

[curator]

NDDC just discovered this big hole in their finances? They should be ashamed to announce this and the board should resign and let someone else come in to do an investigation. I really do not want to use the dirty word 'audit'.

[USERGROUP=4]@Senior Curators[/USERGROUP]