The Senate ad-hoc committee investigating the 40 billion naira corruption allegation against the Niger Delta Development Commission (NDDC) has presented an update on the matter to senators.

The Senate and the House of Representatives are probing an allegation that the Interim Management Committee of the NDDC squandered 40 billion naira within three months.

The Chairman of the Senate ad hoc panel, OLUBUNMI ADETUNMBI, said his team was probing the NDDC interim committee based on the documents which faulted its management of funds at its disposal.

A member of the committee, BETTY APIAFI said available records from the Expanded Interim Management Committee revealed that it spent 81 billion in 6 months.