The Committee said the former management team of the Nigerian Content and Development Monitoring Board, NCDMB, headed by erstwhile Executive Secretary, Simbi Wabote, showed signs of alleged financial recklessness for investing a total of N14 billion naira for shares to a company one year after it was registered in 2020.
Taxpayers are used anyhow, if it were to be your own money will you go into such investments? How will you retrieve such money without equity?' 'Monies were just disbursed without due diligence, if you are claiming those funds are backed by CBN guarantee why haven't you recovered them after the contract had expired.' 'The tenure for loan domiciled with Bank of Industries is 5 years, with the first set in 2018/2019.
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