The Nigerian Content Development and Monitoring Board (NCDMB) has dismissed allegations that it spent N9.9 billion on consultancy services, reaffirming its commitment to transparency in all its operations.
In a statement issued by its Corporate Communications Department, the Board expressed concern over the rapid escalation of the alleged amount from N7.7 billion to N9.9 billion within a week, attributing it to misinformation propagated by certain groups.
The NCDMB emphasized that all its financial transactions adhere strictly to due process, with expenditures fully approved in line with established financial and procurement guidelines.
Addressing the Allegations
The statement read: “The NCDMB wishes to alert the public that a sponsored group, CCSGG, masquerading as a coalition of civil society organizations for good governance, is recycling the same unfounded allegations recently published against our agency. While we have previously debunked these claims in a widely circulated press statement on February 13, titled ‘NCDMB Observes the Highest Standards of Accountability, Transparency, and Due Process in its Operations,’ the purveyors of this misinformation have now engaged unsuspecting journalists in various media outlets to perpetuate their false narrative.”
For clarity, the Board reiterated:
- Neither the Board nor the Executive Secretary has expended the alleged N9.9 billion on consultancy services.
- The NCDMB organized a strategic workshop involving key government ministries, departments, and agencies related to the oil and gas industry. This biannual event aims to foster alignment in implementing the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, 2010, as part of the Board’s 10-year strategic roadmap.
- The workshop, attended by leadership and senior management of critical agencies, ensures a harmonized regulatory and policy implementation approach for the NOGICD Act.
- All expenditures related to the workshop and other Board projects strictly adhere to approved financial and procurement guidelines.
- There was no expenditure of N9.9 billion on consultancy services.
Transparency in Operations
The NCDMB clarified its engagement with S.B Capital Partners & Advisory Limited, a firm that has provided credit review services for the Nigerian Content Intervention Fund (NCIF) in partnership with the Bank of Industry since 2018. The firm’s role is to assess the economic viability and bankability of projects submitted for funding through the Board.
The Board further highlighted its commitment to transparency, citing its three consecutive awards from the Presidential Enabling Business Environment Council (PEBEC) as the most transparent and efficient federal agency.
The NCDMB reassured the public of its unwavering dedication to accountability and urged stakeholders to disregard baseless allegations aimed at discrediting its operations.
