The Economic and Financial Crimes Commission (EFCC) has arrested the former Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB)Timber Kesiye Wabote,, over allegations of misappropriation of $35 million in public funds linked to the failed Brass Project in Bayelsa State.
A project that was meant to develop an Energy Infrastructure Park in the Okpoama Community, Brass Local Government Area, Bayelsa State, including a refinery, jetty, gas plant, power plant, data center, and tank farm with the capacity to process 2,000 barrels of oil per day. NCDMB, under Wabote’s leadership, had reportedly provided counterpart funding of $35 million for the project.
The project was abandoned in December 2020 with minimal progress made despite the substantial funds allocated. Investigations revealed that Akintoye Adeoye Akindele, the Managing Director of Atlantic International Refinery and Petrochemical Limited was paid the $35 million by NCDMB to oversee the construction of the refinery and associated facilities. The funds were reportedly misappropriated, leaving little to show for the investment.
Preliminary findings suggest that Wabote, during his tenure as NCDMB Executive Secretary from 2016 to 2023, was involved in multiple such investments, including the Brass Free Trade Zone initiative.
The EFCC is currently holding Wabote at its Abuja facility. Also, Akintoye Adeoye Akindele has being earlier detained by EFCC while investigations continue.
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Credit, Lindaikejisblog
