Global best practice takes over NDDC as KPMG submits ‘Advisory Report’ as tool for transformation

Global best practice is set to take over processes and corporate governance at the Niger Delta Development Commission (NDDC) as KPMG submits the much-awaited Advisory Report’.

This is as Samuel Ogbuku, NDDC Managing Director says that the ‘Governance Advisory Report’ from the multinational business management consultancy firm (KPMG) provides the tool for the realisation of the Commission’s transition from transaction to transformation policy.

Ogbuku, who spoke during the presentation of the KPMG advisory report at the NDDC headquarters in Port Harcourt, expressed the Commission’s eagerness to proceed to the implementation phase of the new governing system.

Emphasising the document’s importance, he said: “This report will serve as a guide once the board adopts it. When approved, it becomes a policy statement that every directorate and department of the NDDC can use.

“Be assured that when it comes to the implementation stage, we will follow it to the letter. This document is coming at the right time when the NDDC has a functional budget.”

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He stated that the NDDC must ensure that a new institutional culture anchored on sound ethics and good corporate governance was in place to improve its internal processes and institutional protocols.

The NDDC boss said the report would strengthen the Commission by instituting lasting internal regulations.

Speaking earlier, a KPMG Manager, Olugbenga Afuwape, said the ‘Governance Advisory Report’ was structured into seven policy documents, including six charters, covering risk management, internal controls, stakeholder engagement, board policies, and key management policies.

He promised that KPMG would continue to offer its skills and experiences to improve NDDC’s internal processes and ensure accountability and transparency.

In his remarks, Boma Iyaye, the Executive Director of Finance and Administration, commended the initiative to review the Commission’s governing structure, describing it as timely and assured that all recommendations would be implemented.

He noted that the Governance Advisory report would enhance the service delivery of the NDDC, which would result in stakeholder satisfaction.

In a statement by Seledi Thompson-Wakama, Director, Corporate Affairs, Ifedayo Abegunde, who is the Executive Director of Corporate Services, applauded KPMG for its thorough work. He stated that the partnership with the NDDC would help the Commission reform and transform.