Timber Kesiye Wabote, the former Executive Secretary of the Nigeria Content Development and Monitoring Board (NCDMB), has been arrested by the Economic and Financial Crimes Commission (EFCC) in connection with an alleged $35 million fraud. The case involves a failed refinery project called the Brass Project, for which the funds were allocated.

This arrest comes after Akintoye Adeoye Akindele, the Managing Director of Atlantic International Refinery and Petrochemical Limited, was also detained. Akindele faces accusations of misappropriating, laundering, and diverting the $35 million in public funds that were intended for the project. Investigations by the EFCC revealed that Akindele had received financing from NCDMB for the development of an Energy Infrastructure Park in Okpoama, Brass LGA, Bayelsa State.

Wabote, who served as the Executive Secretary of the NCDMB from 2016 to 2023, was responsible for overseeing the board’s involvement in the project. He is currently being held at the EFCC facility in Abuja while investigations continue.

The EFCC’s investigation is focusing on how the $35 million allocated for the project was used and whether there was any mismanagement or illegal activity involved. The arrest highlights the ongoing efforts to combat corruption and financial mismanagement in Nigeria’s public sector.

An investigative report states: “NCDMB under the watch of Wabote allegedly paid the $35 million to Akindele to build a 2,000 barrel per day (BPD) refinery, jetty, gas plant, power plant, data center, and tank farm at the Brass Free Trade Zone (FTZ) in Okpoama Community, Brass LGA, Bayelsa State.

“Since December 2020, when the payments were made, Akindele allegedly abandoned the project with minimal progress, despite the substantial funds provided.”

Initial results show that, under Wabote’s leadership, the NCDMB funded 17 various projects, such as a 2,000 BPD refinery, a jetty, a gas plant, a power plant, a data center, and a tank farm within the Brass FTZ.