•Says, we’re transiting from transaction to transformation
The Managing Director, Niger Delta Development Commission (NDDC), Dr. Samuel Ogbuku, has said the Treasury Single Account (TSA) is good for transparency, accountability, and efficient pooling of public resources, but it has weighty limitations for an interventionist agency like the commission. He made the disclosure in his address during a two-day board and management retreat of the commission, held at the Four Point by Sheraton, Ikot Ekpene, Akwa Ibom State. Ogbuku, was quoted in a statement issued by the commission’s Director of Corporate Affairs, Pius Ughakpoteni, as saying that the NDDC is undergoing transition from transaction to transformation, as path of its rebirth and rewind policy, towards developing the Niger Delta region.
His words: “At present, we operate under the Treasury Single Account (TSA) framework. We recognise the importance of transparency and accountability, principles enshrined in the Treasury Single Account (TSA) policy.
“The impact of TSA on NDDC operations, like other agencies, include improved financial management, increased oversight, budgetary discipline, and enhanced cash management. Centralizing revenue through TSA enhances transparency, facilitates government monitoring, enforces budgetary discipline, and streamlines cash management.”
He advocated the removal of the commission from operating under the TSA framework, due to its unique characteristics and the potential benefits of increased autonomy in financial management. Ogbuku added that the commission has commenced the processes of strengthening and improving on its corporate governance system. The NDDC, according to him, was committed to actualising a thriving Niger Delta through the Renewed Hope Agenda of President Bola Tinubu-led Federal Government. Ogbuku noted that the NDDC was able to complete many legacy projects before the TSA regime came into effect.
Also speaking, the Former Managing Director of the NDDC, Mr. Timi Alaibe, said: “Sustainable Development in the Niger Delta environment is something that should not be compromised because of the damage to our ecosystem, environment and socio-political survival and sustainability.”
The Chairman, House Committee on NDDC, Erhiatake Ibori-Suenu, represented by the deputy chairman of the committee, Jafaru Gambo Leko, was optimistic that the Niger Delta stakeholders could collectively achieve the goals of the people. He commended President Tinubu for assembling capable hands to run the NDDC.
Akwa Ibom State Deputy Governor, Sen. (Dr.) Akon Eyakenyi, said the state was willing to partner with the NDDC to ensure that the people benefit from being part of the commission.