The Economic and Financial Crimes Commission, EFCC, has apprehended Timber Kesiye Wabote former Executive Secretary of the Nigerian Content Development and Monitoring Board, NCDMB, over alleged involvement in a $35 million fraud related to the Brass Project in Bayelsa State.
This arrest comes after the detention of Akintoye Adeoye Akindele, Managing Director of Atlantic International Refinery and Petrochemical Limited.
Akindele faces accusations of diverting public funds designated for his Energy Infrastructure Park project, an ambitious initiative promising a refinery, gas plant, and jetty in Okpoama Community, Bayelsa State.
The NCDMB, under Wabote’s leadership between 2016 and 2023, invested $35 million into this project, intended to produce 2,000 barrels daily, but it stalled in December 2020, raising concerns over financial mismanagement.
The investigation also targets the broader use of public funds under Wabote’s tenure, during which the NCDMB financed 17 projects.
However, despite considerable investments, the much-anticipated Brass Free Trade Zone initiative remains incomplete. Wabote remains in EFCC custody in Abuja as investigations continue into the alleged diversion of resources earmarked for infrastructure growth.
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A brief on the investigation reads: “NCDMB under the watch of Wabote allegedly paid the $35million to Akindele to build a 2000 barrel per day, BPD, Refinery, Jetty, Gas Plant, Power Plant, Data Centre and Tank Farm at Brass Free Trade Zone, FTZ, Okpoama Community in Brass LGA of Bayelsa state.
“Since December 2020 when the payments were made, Akindele allegedly abandoned the project with little or nothing to show for the huge sum paid to him.
“Preliminary investigations showed that Wabote’s NCDMB financed 17 different projects, including 2000 barrel per day, BPD, Refinery, Jetty, Gas Plant, Power Plant, Data Centre and Tank Farm at Brass Free Trade Zone, FTZ, Okpoama Community in Brass LGA of Bayelsa State.
The EFCC has said it is on the trail of other suspects.
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