Describes it as spurious, malicious, and a piece of fake news.
 

The management of the Nigerian Content Development and Monitoring Board (NCDMB) has reacted to claims by an online medium that the Minister of State for Petroleum Resources, Timipre Sylva, demanded the sum of $20 million from the agency to fund Bayelsa re-run elections.
This is contained in its press statement released on June 19, 2020. The NCDMB while denying the allegation described it as spurious, malicious and a piece of fake news. The board also pointed out that the sponsors of the lies were bent on tarnishing the good image of the NCDMB, and the reputations of the Executive Secretary, Engr. Simbi Wabote, and the Minister of State for Petroleum Resources, Timipre Sylva. According to the statement by NCDMB, “The attention of the management of the Nigerian Content Development & Monitoring Board (NCDMB) has been drawn to a spurious and malicious story published by an online medium- POINTBLANK NEWS, titled – Sylva demands $20 Million from Local Content Board Boss to fund Bayelsa Re-Run Elections.
“Ordinarily, the Board would have ignored this fake news, especially one planted in a notorious online publication. However, we are constrained to react because sponsors of the wicked tissues of lies are intent on tarnishing the good image of the Board and strong reputation of the Executive Secretary, Engr. Simbi Wabote and that of the Honourable Minister of State for Petroleum Resources, Chief Timipre Sylva and portray the Board as partisan.”
The board believes that the fabrication was sponsored by those trying to contest for senatorial elections in Bayelsa West Senatorial District, who were in the habit of raising wild allegations to lure NCDMB into local politics.
While trying to clarify issues, the NCDMB stated the following:

• “There is no iota of truth in that story. It is completely mendacious and a figment of the imagination of those behind it.
• The current Minister of State for Petroleum Resources, Chief Timipre Sylva has never demanded nor suggested to the Board and its leadership to fund any political activity in Bayelsa or any part of the country, however described.
• The Nigerian Content Development Fund (NCDF) was instituted for funding capacity development in oil and gas activities and cannot be applied for any other purpose except that expressly stated in the NOGICD Act.
• It is preposterous to allege that the Minister is demanding $20m from NCDMB to fund elections, whereas all funds belonging to the Federal
• Government are in the custody of the Central Bank of Nigeria and NCDMB’s funds cannot be withdrawn except for legitimate purposes consistent with its mandate. Thus it is absurd and unreasonable to contemplate or imagine that the Board can withdraw any money from the NCDF except for any of the purposes it was instituted under the Act.
• The status of NCDMB finances are in the public domain and can be verified by anyone or group that is so interested; and that is why the Executive Secretary has consistently announced the balance sheet and utilization of NCDF at every oil and gas fora.
• Contrary to the wicked suggestion in the story, NCDMB has never awarded any contract to the Minister or any company connected to him and neither has the Board awarded contracts for shore protection in Brass LGA of Bayelsa State because it is clearly outside our statutory mandate.
• It is pertinent to state that NEITI declared NCDMB as the most transparent federal oil and gas agency and the Board achieved this lofty feat because our operations are always compliant with the government’s financial regulations.
• NCDMB’s financial processes and operations are always open and transparent. The Board and its leadership have never been manipulated and cannot be influenced to favour individuals or political parties, no matter how highly placed because what the Board does must be in line with its mandate in the NOGICD Act.
• One would have expected POINTBLANK NEWS, if it were a credible media outfit, to conduct a thorough investigation with a view to validating the veracity of the story before going to press. But in this case, it was a mere conjecture by the authors to please their sponsors.
• From the foregoing, it is obvious that this story was calculated to malign the Board, its leadership and the Honourable Minister of State for Petroleum Resources, to score cheap political points and create disaffection.
• Going forward, the Board will not hesitate to take appropriate legal action against any individual or media organizations that publish materials that are spurious, malicious and libellous.”