N11.8bn PDP fund unaccounted for – Nwodo

Former Peoples Democratic Party (PDP) national chairman, Okwesilieze Nwodo, has said N11.8 billon he left in the party’s coffers in 2011, when he was removed from office was ‘missing.’

However, the incoming national chairman, Iyorchia Ayu, has vowed to unravel the whereabouts of the money when he assumes office.

Ayu stated this, yesterday, in Abuja, while responding to questions from journalists, at the end of a two-day retreat for newly elected national officers of the PDP.

The former Senate president, who was elected as the PDP national chairman at its national convention on October 30, is scheduled to assumed office on December 9.

Nwodo, while delivering a paper at the retreat, on Wednesday, had harped on the need for prudent management of party finances and called on the new leadership to impose strict sanctions on mismanagement of party finances to serve as deterrent.

“On accountability and transparency in the management of party funds. Today we seem to have lost it.

“I handed over N11 billion in fixed deposit and eight hundred million in 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 finish 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 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 deterrent.”