Ernst & Young emerges preferred auditor for NDDC forensic audit

Ernst & Young NDDC audit will cover 19 years

Auditors led by professional services firm, Ernst & Young have been approved by the Nigerian government to audit the finances of the embattled Niger Delta Development Commission, NDDC.

The Minister of Niger Delta Affairs, Senate Godswill Akpabio disclosed this on Wednesday.

Recall that Nigerian lawmakers launched an investigation this year into alleged financial mismanagement at the Niger Delta Development Commission (NDDC) over the last 20 years.

Also, read Akpabio fights back, releases names of lawmakers who got NDDC contracts. Find out who they are

An audit of the body was ordered by President Muhammadu Buhari in October.

Senator Akpabio said the appointment of a team of auditors was approved at the Federal Executive Council meeting on Wednesday. He said the Ernst & Young NDDC audit would examine projects approved by NDDC over the last 19 years.

“Through this exercise, we will know the amount of monies that have gone into the region in the last 19 years and whether the value we have received so far are commensurate with the monies that have entered into NDDC,” he told reporters after the meeting.

Asked about the cost of the audit, Akpabio said Buhari last year approved around 2.5 billion naira ($6.57 million) to cover the cost of the exercise.