Qualitative Results Of The Ncdmbs Financial Accountability

10.6.5 Qualitative results of the NCDMB’s financial accountability A number of important themes have arisen from qualitative analysis related to the board’s financial accountability in managing resources. These themes were: (1) transparency and accessibility of financial information (2) honesty and professionalism (3) monitoring, auditing and verification of performance, and (4) stakeholder engagement. These points are discussed below. 10.6.5.1 Transparency and accessibility of financial information Results have shown stakeholders’ mixed reactions on the NCDMB’s transparency of financial information. Contrary to the quantitative findings, many issues have been raised concerning how the board manages the two funds in its custody.†¦show more content†¦This may contradict the results obtained in section 10.6.4 above. Although Hufbauer et al. (2013) claimed that the modalities of the fund had remained vague, stakeholders have surprisingly shown a good understanding of the divisions of the fund into 30% developmental interventions and 70% commercial interventions (S. 70(h) NOGICD; UBA PLC and BGL Capital, 2014; see also chapter four). Stakeholders’ calls for reporting of the NCDF as evident from the empirical data were in line with several calls from civil society groups about the board’s transparency and the accessibility of the fund (Nigerian Tribune, 2015). It was reported that these stakeholders â€Å"want a clearer and less cumbersome process of accessing the Nigerian Content Fund† according to a civil society group. It was pointed out that the difficulty in accessing the fund came at the time when companies were in a pressing need to develop capacity and finance projects. Since the fund was meant to encourage local employment, training, local sourcing, etc, stakeholders h ave also shown interest in traceable records to that effect, or else, the value addition expectations of the fund would be vitiated. From the perceptions of stakeholders it seemed that none were aware of the actual financial position of the fund as none had responded to such question. This re-affirmed that stakeholders were