The Economic and Financial Crimes Commission (EFCC) has apprehended Timber Kesiye Wabote, the former Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), in connection with allegations of misappropriating $35 million in public funds meant for the failed Brass Project in Bayelsa State.
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Wabote’s arrest follows the earlier 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 funds.
The investigation focuses on an abandoned Energy Infrastructure Park project in the Okpoama Community, Brass Local Government Area, Bayelsa State, which was intended to include a refinery, jetty, gas plant, power plant, data center, and tank farm with a capacity to process 2,000 barrels of oil per day. NCDMB, under Wabote’s leadership, had reportedly provided $35 million in counterpart funding for the initiative.
Despite the substantial funds allocated, the project was abandoned in December 2020 with minimal progress made. Investigations revealed that Akindele received the $35 million from NCDMB to oversee the construction of the refinery and associated facilities, but the funds were allegedly misappropriated.
Preliminary findings suggest that Wabote, who served as NCDMB Executive Secretary from 2016 to 2023, was involved in multiple such investments, including the Brass Free Trade Zone initiative. His arrest is specifically tied to the mismanagement of the $35 million intended for the refinery project.
Wabote is currently being held at the EFCC’s Abuja facility as investigations continue into the case, with other suspects also under scrutiny. EFCC spokesman, Dele Oyewale, confirmed Wabote’s arrest on Wednesday but declined to provide further comments on the ongoing investigation.
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