The Economic and Financial Crimes Commission (EFCC) has arrested Timber Kesiye Wabote. Wabote was the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB). He is being accused of a $35 million (est. N60 billion) fraud connected to the failed Brass Project in Bayelsa State.
The EFCC is investigating Wabote for possibly misusing the public funds meant for a refinery and other infrastructure projects. His arrest follows the earlier detention of Akintoye Adeoye Akindele, the Managing Director of Atlantic International Refinery and Petrochemical Limited. Akindele is facing charges of money laundering and misappropriation of public funds.
During Wabote’s time as Executive Secretary of NCDMB from 2016 to 2023, the board earmarked $35 million to build an Energy Infrastructure Park in Okpoama Community, Brass Local Government Area of Bayelsa State.
This project was supposed to include a refinery, a jetty, a gas plant, a power plant, a data center, and a tank farm that could process 2,000 barrels of oil daily.
However, reports show that the project was left unfinished in December 2020, even though much money had been expended. A source mentioned, “The NCDMB under Wabote allegedly paid the $35 million to Akindele to build a refinery and other facilities at Brass Free Trade Zone. But since December 2020, Akindele allegedly abandoned the project, leaving little to no progress.”
Further investigations revealed that Wabote’s NCDMB financed 17 projects, including the refinery and Brass Free Trade Zone facilities.
Wabote was arrested on Tuesday for the failed refinery, for which $35 million was paid.
EFCC spokesman Dele Oyewale confirmed the arrest and detention but gave no further information.
Wabote is currently being held at the EFCC facility in Abuja. The anti-graft agency is looking for other people involved in the case.
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