The Senate has summoned the executive secretary of the Nigerian content development and monitoring board (NCDMB), giving him two weeks to appear before the committee on local content in connection with an alleged $ 14.86 million fraud involving investments in Atlantic International refinery and petrochemical Ltd.
The NCDMB management agreed to provide the committee with full documentation of all transactions involving the alleged conspiracy and dishonest conversion of $14, 859, and 257 by December 2 following an interactive session held today.
Timipre Sylva, the former minister of state for petroleum resources, was recently identified as wanted in connection with the matter, according to recent reports from the Economic and Financial Crimes Commission (EFCC).
The funds in question are allegedly the NCDMB’s investment in Atlantic refinery in order to build a refinery project, according to reports cited during the session.
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The committee also voted to summon foreign oil companies (IOCs) because they failed to return the one-percent capacity building fund, which is intended to promote local content development in Nigeria’s oil and gas sector.
Joel Onowakpo-Thomas, the committee’s chairman, and other lawmakers criticized the NCDMB Executive Secretary’s inability to appear before the panel, calling his absence inconvenient and obstructing the committee’s oversight responsibilities.
To keep the committee informed, “We are trying to have an idea of what happened.” We will give him another opportunity to come in and explain to us because this is his first time,” he said.
Source: Channels TV
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