SaharaReporters previously reported that Felix Omatsola Ogbe, the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), faced allegations of authorizing the diversion of public funds from the Nigerian Content Development Fund’s US dollar account at the Central Bank of Nigeria into questionable contracts.
The NCDMB has now confirmed a SaharaReporters story, acknowledging that it organized a “strategic workshop with heads of ministries, departments, and agencies of government” at a reported cost of N580 million.
Despite documents indicating extravagant spending under the embattled Executive Secretary, Ogbe, the Board, in its statement, maintained that all expenditures adhered to “rigorous approval processes in accordance with the provisions of the Public Procurement Act 2007.”
SaharaReporters further revealed that N7.7 billion ($4.7 million) was allegedly misappropriated by Ogbe without the necessary approval from authorized levels, violating relevant procurement protocols and policies.
In a statement issued by its Corporate Communications Department, the NCDMB defended its spending, stating:
“It is a fact that in 2017, the Board developed a 10-Year Strategic Roadmap underpinned by five pillars and four enablers. This roadmap aims to achieve 70% local retention of oil and gas industry expenditures by 2027, among other measurable targets.
“One of the four enablers of the roadmap is Stakeholder Collaboration and Engagement, which ensures coordinated policy and regulatory implementation across government agencies.
“In alignment with this, the Board has, every two years, organized a Strategic Workshop with Heads of Ministries, Departments, and Agencies of government involved in the oil and gas industry. The objective is to assess and align the implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, 2010.
“In executing this Strategic Workshop and other Board activities, due process was strictly followed to ensure financial expenditures complied with approved financial and procurement guidelines. NCDMB operates under strict government regulations and oversight.
“All expenditures undergo rigorous approval processes in accordance with the Public Procurement Act 2007, the NOGICD Act 2010, and other relevant statutes and policies.”
However, sources who spoke to SaharaReporters alleged that Ogbe authorized three payment requests initiated by Fatima Bashir Mohammed. She reportedly leveraged her previous role at the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to approve payments to a consulting firm, S.B Capital Partners & Advisory Limited, owned by Stephen Bawa.
These payments allegedly exceeded the approval limits of even the Ministerial Tenders Board (MTB), with the appropriate approving authority being the Federal Executive Council (FEC).
“Two of the three payments were US$3,062,089.52 and US$1,636,846.42, totaling US$4,698,935.94 (equivalent to N5,052,447,675.00 and N2,700,796,593.00, respectively, amounting to N7,753,244,301.00 at the prevailing exchange rate of 1,650/US$1). None of the three split amounts fell within the payment threshold outside the FEC,” a source disclosed.
The source further raised concerns about the payments being processed at the Central Bank of Nigeria without clear evidence that the consultant had recovered the funds for which the fees were paid.
“How much did the consultant actually recover to justify such a fee?” the source questioned.
The contract reportedly relates to the recovery of funds deducted from the Nigerian Content Development Fund by the Office of the Accountant General of the Federation (OAGF).
“The OAGF, under the Federal Ministry of Finance, is a crucial government office. The NCDMB is also a government-owned entity. This should have been a government-to-government transaction, eliminating the need for private consultants,” the source argued.
“The deduction was initiated by the federal government and required direct communication with relevant government officials at the highest levels. Instead, the transaction resulted in the loss of over N7 billion under the pretense of consulting services,” another source told SaharaReporters.
The payments were also described as a case of contract splitting, a practice explicitly prohibited by procurement regulations.
Despite these violations, the key individuals involved—Fatima Mohammed, the acting Director of Finance; Ifeanyi Ukoha; and Mubaraq Zubair, the acting General Manager of Finance & Accounts—who were all reportedly appointed by Ogbe without proper government approval, proceeded with the transactions.
“Despite these infractions, the operatives—Fatima Mohammed, who initiated the payment requests; Acting Director of Finance Ifeanyi Ukoha; and Acting General Manager of Finance & Accounts Mubaraq Zubair—who were appointed by Ogbe without the necessary government approval, authorized the payments,” one of the sources alleged.
Additionally, a document obtained by SaharaReporters, titled “Nigerian Content Development and Monitoring Board: Top Management Committee (TMC) Meeting” with reference number TMC-02/10/06/2024/01, revealed the approval of substantial funds for a five-day capacity training workshop for key stakeholders in the financial sector, held in the United Kingdom.
An excerpt from the TMC meeting on June 10, 2024, signed by the Director of Legal Services, Naboth Onyesoh, stated:
“TMC is requested to consider and approve the Board’s sponsorship of a five-day capacity training workshop facilitated by Talent Expertise International in London, United Kingdom, for the Board’s key financial sector stakeholders.”
The TMC subsequently approved the following:
- Engagement of Talent Expertise International to organize the training in London in October 2024 at a cost of US$110,993.75 (N182,251,737.50 at N1,642 per dollar), inclusive of taxes.
- Payment of US$5,950.00 (N9,769,900) to each of the 15 key stakeholders (totaling N146,548,500).
- Payment of US$2,000.00 (N3,284,000) to seven Board management members for course fees, which cover materials, meals, and group excursions for team building.
- Payment of US$106,960.00 (N175,628,320) as estacode to all participants and US$17,780.00 (N29,194,760) to five secretariat members for the seven-day trip.
- Payment of US$30,000.00 (N49,260,000) as logistics costs for the key stakeholders.
This report further reinforces concerns about financial mismanagement within the NCDMB under Ogbe’s leadership.
