The Senate ad hoc committee set up to unravel the alleged financial recklessness by the Interim Management Committee of the Niger Delta Development Commission (NDDC) has recommended its dissolution.
The panel also recommended that the NDDC should be returned to the Presidency for direct supervision.
It also said the monitoring and advisory bodies recognised by the Act which established the NDDC, should be inaugurated immediately.
It lamented the extra-budgetary spending by the IMC which it noted was affecting the people of the Niger Delta.
It noted that the Ministry of Niger Delta has no capacity to implement the forensic audit and therefore demanded that the Auditor General of the Federation should supervise the forensic audit for transparency and efficiency.
It also said the Auditor General should appoint internationally renowned audit experts to carry out the exercise.
It added that the N1.4bn spent on COVID -19 by the IMC should be refunded to the NDDC account.
The senators are currently debating the report of the panel, presented by the Chairman, Senator Olubunmi Adetunmbi.