The committee also plans to summon international oil companies (IOCs) for failing to remit the mandatory 1% capacity building fund.
The Nigerian Senate has officially 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 over an alleged $14.86 million fraud linked to Atlantic International Refinery and Petrochemical Ltd.
During a session on Thursday, lawmakers demanded that the NCDMB provide full documentation on all transactions related to the alleged misappropriation of $14,859,257 by December 2, 2025.
Reports from the Economic and Financial Crimes Commission (EFCC) indicated that former Minister of State for Petroleum Resources, Timipre Sylva, is wanted in connection with the matter.
The disputed funds reportedly represent capital invested by NCDMB into Atlantic Refinery for the establishment of the refinery project. In addition, the Senate resolved to summon international oil companies (IOCs) that failed to remit the mandatory 1% capacity building fund, designed to support local content development in Nigeria’s oil and gas sector.
Chairman of the Committee, Joel Onowakpo-Thomas, alongside fellow lawmakers, criticized the NCDMB Executive Secretary’s absence from the panel, calling it unacceptable and obstructive to the Senate’s oversight responsibilities.
“We are trying to have an idea of what happened to keep the committee abreast. This is the first time, so we will give him another opportunity to explain to us,” the chairman said.
The Senate has indicated that further action will be taken if the NCDMB Executive Secretary fails to appear.