The Centre for Public Accountability (CPA), in conjunction with other civic organisations, has called for an investigation into suspected financial irregularities within the Nigerian Content Development and Monitoring Board (NCDMB).
According to the CPA, a sum of N7.7 billion was allegedly misappropriated without the required approvals, in direct violation of procurement regulations.
In a statement released on Saturday, February 15, 2025, CPA Executive Director, Dr Ebenezer Oladapo, expressed concern that the payments were made without concrete evidence that the consultant who received the funds had successfully recovered any amount to justify the transaction.
The group warned that such financial practices could jeopardise President Bola Tinubu’s anti-corruption agenda and undermine efforts to instill accountability within public institutions.
It urged the President to authorise an immediate, independent, and comprehensive inquiry into the financial dealings of the NCDMB under its current leadership.
Additionally, the CPA revealed plans to submit petitions to the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and Other Related Offences Commission (ICPC), and other relevant authorities to ensure a thorough investigation into the matter.
The CPA issued a seven-day ultimatum for the government to initiate an inquiry, warning that failure to act would compel the organisation to pursue legal and civic measures to hold those responsible accountable.
Reaffirming its commitment to transparency, accountability, and integrity in public financial management, the CPA insisted that government funds must be administered strictly under established procedures.
The NCDMB has defended its financial activities following widespread media reports alleging misappropriation.
The Board confirmed hosting a workshop costing N580 million, describing it as part of its 10-year Strategic Roadmap aimed at strengthening local content in Nigeria’s oil and gas sector.
Regarding the allegations of N7.7 billion being diverted into questionable contracts, the NCDMB insisted that all expenditures complied with due process and were subject to stringent government oversight.
It maintained that its financial transactions were conducted transparently and in full adherence to statutory regulations.
The CPA accused the NCDMB of spending N7.7 billion without obtaining the necessary approvals. It alleges that the Executive Secretary of the Board, Mr Felix Ogbe, unlawfully authorised the expenditure, exceeding the approval limits set by the Ministerial Tenders Board (MTB).
Furthermore, the organisation claimed that payments were processed through the Central Bank of Nigeria (CBN) without sufficient justification.
