The Economic and Financial Crimes Commission (EFCC) has detained Timber Kesiye Wabote, the former Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), in connection with an alleged $35 million fraud related to the Brass Project. This development follows ongoing investigations into a failed refinery project for which the substantial funds were allocated.
Sources reveal that the arrest is linked to previous detention of Akintoye Adeoye Akindele, Managing Director of Atlantic International Refinery and Petrochemical Limited. Akindele is under scrutiny for alleged misappropriation, money laundering, and the diversion of public funds amounting to $35 million.
Wabote is currently being held at the EFCC’s Abuja facility as investigations continue.
According to reports, Akindele was the driving force behind the Energy Infrastructure Park project, located in Okpoama Community, Brass Local Government Area of Bayelsa State. The NCDMB, under Wabote’s leadership, reportedly committed $35 million in counterpart funding to support the development of the project, which included a 2,000-barrel-per-day refinery, a jetty, gas plant, power plant, data center, and tank farm.
Wabote served as the Executive Secretary of the NCDMB from 2016 to 2023 and was actively involved in overseeing the board’s investment in the Brass Free Trade Zone (FTZ) project.
Investigative reports indicate that despite the significant funding disbursed by the NCDMB in December 2020, the project has seen minimal progress. Akindele, who received the funds to spearhead the construction, allegedly abandoned the project, raising concerns about the management of the substantial financial resources.
The EFCC’s preliminary findings reveal that during Wabote’s tenure, the NCDMB financed a total of 17 projects, including the stalled 2,000 BPD refinery and associated facilities at the Brass FTZ. The investigation aims to determine the extent of financial discrepancies and the role of those involved in the allocation and management of the funds.
This high-profile case underscores the EFCC’s commitment to probing instances of financial mismanagement in Nigeria’s energy sector as the agency continues to scrutinize the use of public resources in various development projects.
