The Federal Government says it is reviewing loans and projects estimated at $500m executed by the Nigerian Content Development and Monitoring Board.
The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, who made the disclosure, also accused the past executive of the NCDMB of allegedly wasting about $500m on questionable projects and loans.
During an interactive session at the event, Lokpobiri alleged that the past leadership of the NCDMB paid $35m for the Brass modular refinery in Bayelsa State without anything to show for it. Also, he also claimed that $20m was paid for a fertiliser factory, which has yet to be seen.
Reacting, the immediate past Executive Secretary of the NCDMB, Simbi Wabote, debunked all the allegations, saying “You cannot drag a man to want to destroy him without having facts and no evidence to back it up”.