NCDMB to commission forensic audit on Nigerian content fund payments

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Nigerian Content Development and Monitoring Board (NCDMB) has unveiled plans to commission a third-party forensic audit, to track and recover due payments on the Nigerian Content Development Fund (NCDF), The Guardian reports.

The Executive Secretary, NCDMB, Simbi Wabote, who made this disclosure in Lagos recently at a meeting with members of the Indigenous Petroleum Producers Group (IPPG), therefore tasked oil and gas companies on the remittance of NCDF deductions.

The NCDF is underpinned by Section 104 of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, which provides that the funds be used for developing capacity in the oil and gas industry.