The former Executive Secretary of the Nigerian Content Development and Monitoring Board, NCDMB, Timber Kesiye Wabote has been arrested for alleged fraud totaling $35 million by the Economic and Financial Crimes Commission (EFCC).
The said money was linked to the failed Brass Project in Bayelsa State.
Report said, the investigation revealed how Wabote misappropriated public funds when he was the Secretary of the agency, a development that led to the failed Brass project.
The money was not injected to boost local energy capabilities, hence, the project never saw the light of the day before he left the agency.
Wabote’s travails followed the earlier arrest and detention of Akintoye Adeoye Akindele, the Managing Director of Atlantic International Refinery and Petrochemical Limited, who is facing charges of money laundering, misappropriation, and diversion of public funds.
Under Wabote’s leadership, the NCDMB reportedly provided counterpart funding of $35 million to support the development of an Energy Infrastructure Park in the Okpoama Community, Brass Local Government Area, Bayelsa State.
According to sources, the project was meant to include a refinery, jetty, gas plant, power plant, datacentrer, and tank farm, designed to process 2,000 barrels of oil per day.
However, investigations reveal that the project was abandoned in December 2020 with minimal progress made, despite the significant funds allocated.
The source said, “NCDMB under the watch of Wabote allegedly paid the $35 million 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 the 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.
“His arrest on Tuesday is in connection with the botched refinery for which $35 million was paid.
“He was picked up following the arrest of the Managing Director of Atlantic International Refinery and Petrochemical Limited, Mr. Akintoye Adeoye Akindele for alleged misappropriation, money laundering and diversion of $35 million public funds.”
Wabote’s tenure as NCDMB Executive Secretary, from 2016 to 2023, saw multiple such investments, including the $35 million allocated for the Brass Free Trade Zone initiative.
The EFCC is detaining him at its Abuja facility, and they are pursuing other suspects involved in the case.
Contacted, EFCC spokesperson, Dele Oyewale, on Wednesday, confirmed Wabote’s arrest and detention, but declined further comments.
