NCDMB Again Refutes Allegations Of Financial Misconduct

The Nigerian Content Development and Monitoring Board (NCDMB) has dismissed allegations of financial impropriety leveled against it by the Coalition of Civil Society for Good Governance (CCGG), describing it as “patently false.”

In a statement by its Corporate Communications Department, NCDMB accused CCGG of being sponsored to launch an attack on the agency, adding that it merely recycled “unfounded allegations” that were recently published in a media platform against the operations of the Board.

Highlighting the discrepancies in the claims, the Board said the earlier allegation by the media platform was that N7.7 billion was misappropriated but the latest accusation by the civil society group claimed that the Board spent N9.9 billion for consultancy services.

Clarifying the issues raised in the allegations, NCDMB said neither the Board nor the Executive Secretary spent the amount stated.

It explained that “NCDMB organised a Strategic Workshop with Heads of Ministries, Departments, and Agencies of government that pertain to the oil and gas industry to interrogate and find areas of alignment in the implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, 2010, in line with our Nigerian Content 10-Year Strategic Roadmap’s enabler on Stakeholder Collaboration and Engagement.

“The workshop is held every two years and involves the leadership and senior management of those critical agencies, with a view to ensuring a harmonious policy and regulatory implementation by all agencies and institutions connected with the NOGICD Act implementation.”

It further stated that the approval of all expenditures regarding the workshop and other projects of the Board was made in accordance with approved financial and procurement guidelines.

“There was no such expenditure of N9.9 billion naira by the Board for consultancy services. It is instructive to note that this figure has moved from N7.7 billion to this new figure within a week by these fake groups masquerading as civil society groups,” the agency further stated.

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Explaining its steps in ensuring financial transparency and accountability, the Board said it had engaged S.B Capital Partners & Advisory Limited since 2018, for credit review services for the NCDMB Nigerian Content Intervention Fund (NCIF) with Bank of Industry.

“S.B Capital Partners & Advisory Limited credit review is to determine economic viability and bankability of projects submitted to the Board through the Bank of Industry (BoI) on our Nigerian Content Intervention Fund (NCIF).

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“The Board conducts all its operations within the highest levels of transparency, which is why we have for three consecutive years won the award from the Presidential Enabling Business Environment Council (PEBEC) as the number one agency in transparency and efficiency amongst all federal ministries, departments and agencies.”

It urged the media and members of the public to disregard the allegations, adding that they are targeted at tarnishing the reputation of the Board.