NDDC Seeks Financial Freedom From TSA For Optimum Performance

Towards enhanced performance, the new board of the Niger Delta Development Commission (NDDC), has solicited the intervention of the Federal Government to be freed from the encumbrances of the Treasury Single Account (TSA) financial regulatory regime.

While underscoring the importance of the principles of transparency and accountability as enshrined in the TSA policy, the commission noted that if strictly followed, such a financial framework would slow down the sustainable programmes of the region as mapped out by the interventionist agency.

Managing director of NDDC, Dr Samuel Ogbuku, made the case while speaking at the board and management retreat with the theme, “Renewed Hope: A New Era for Vitality, Peace and Development,” held at the weekend in Ikot Ekpene, Akwa Ibom State.

“To truly deliver on the ‘Renewed Hope Agenda’, we need to remove funding impediments. We advocate the removal of the NDDC from operating under the TSA framework due to the commission’s unique characteristics and the potential benefits of increased autonomy in financial management,” Ogbuku said.

He explained that operating under the TSA framework might limit the commission’s financial autonomy and hinder it from quickly adapting to emerging needs or unforeseen circumstances as well as limiting its flexibility in resource allocation.