Nwodo Berates Mismanagement of Party Funds in PDP

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(Last Updated On: 2021-11-30)

…Demand whereabout N11bn left in party’s fixed deposit in 2011

Former  National Chairman of the Peoples Democratic Party (PDP), Dr. Okwesilezie Nwodo, has demanded what becomes of the N11 billion he handed over in fixed deposits and Eight hundred million in the party’s current account when he left office as the National Chairman of the party in 2011.

He made the demand while delivering a paper titled ‘Political Party Funding’, which he presented  during the retreat of the two-day PDP national retreat held for the newly elected NWC members and other party stakeholders, in Abuja, on Thursday.

Nwodo, who left office in 2011, while presenting the paper read during the retreat, said, “….today, we seem to have lost it. I handed over N11 billion in fixed deposits and Eight hundred million in the current account  when I left as National Chairman after seven months.

“I don’t see what was done with that money. Millions were raised to complete our National Headquarters, we don’t seem to have a trace  of where all that money went. Our headquarters  is yet to be completed. Today we don’t even have a party account.

“We have to get back to strict monitoring of our party accounts. Our internal audit department needs to be strengthened and supported by the party leadership. Very strict sanctions must be imposed on mismanagement of our party funds.

“I suggest that we include  inviting EFCC to probe erring officers and members  and prosecution of those found culpable. This is the only way to create a deterrent.”

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In the meantime, the new National Chairman of the party, Prof. Iyorchia Ayu, while presenting the communique of the two-day PDP during the event, promised to be different in the management of party funds and that the party’s National Working Committee under his leadership will remain accountable.

Ayu also expressed readiness to review the reports of various committees set up by the out-gone Uche Secondus led National Working Committee adding that their recommendations are implemented.

He said this while presenting the communique  of the two-day PDP national retreat held for the newly elected NWC members and other party stakeholders, in Abuja, on Thursday.

Responding to a question concerning lack of transparency in the management of the party’s fund raised by a former National Chairman of the party, Dr. Okwesilezie Nwodo, Ayu promised to be different saying, “from the moment we come to office, accountability has remain our  watchword and I want to assure all of you that we will run the PDP administration as transparently asp possible.”

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