Former Nigerian Minister Clashes with Ex-Local Content Boss Over Alleged $500 Million Misappropriation

Heineken Lokpobiri, the former Nigerian Minister of State for Agriculture, has accused Simbi Wabote, the former executive secretary of the Nigerian Content Development and Monitoring Board (NCDMB), of misappropriating $500 million in funds. The allegations have sparked a heated clash between the two officials, with each making counter-accusations against the other.

According to Lokpobiri, Wabote "wasted" over $500 million of the industry's funds on questionable equity investments, private establishments, and non-performing loans during his tenure at the NCDMB. Lokpobiri specifically claimed that Wabote paid $35 million for the Brass modular refinery in Bayelsa State without any tangible results and $20 million for a fertilizer factory that has yet to materialize. He also alleged that about $350 million was given as loans to investors, with 90% of the loans being non-performing.

In response, Wabote denied Lokpobiri's claims, calling them "blatant lies from the pit of hell." Wabote countered that Lokpobiri had requested a N30 billion increase in the NCDMB's budget for the minister's office, which Wabote refused to do. He challenged Lokpobiri to provide proof of this request and accused the former minister of presenting false narratives and engaging in character assassination.

Why this matters: The clash between Lokpobiri and Wabote highlights the ongoing issue of corruption and mismanagement of funds in Nigeria's public sector. The allegations of misappropriation involving such a significant amount of money raise concerns about the integrity and accountability of officials entrusted with managing the country's resources.

Lokpobiri has invited journalists to visit the sites mentioned to verify the facts for themselves and stated that investigations are ongoing to recover the funds belonging to Nigerians. He maintained that he has never been involved in the budgeting process of any parastatal under the ministry and has an impeccable record from his time as the Minister of Agriculture. Lokpobiri described the situation as a case of "when you fight corruption, corruption will fight back."

Key Takeaways

• Ex-minister Lokpobiri accuses ex-NCDMB boss Wabote of misappropriating $500 million.
• Lokpobiri claims Wabote wasted funds on questionable investments and non-performing loans.
• Wabote denies allegations, says Lokpobiri requested $30 billion budget increase which he refused.
• Clash highlights ongoing corruption and mismanagement issues in Nigeria's public sector.
• Lokpobiri invites journalists to verify facts, says investigations are ongoing to recover funds.