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Former NCDMB Boss Wabote Denies EFCC Arrest, Clarifies Visit Was Routine

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5 hours ago

Nov 14, 2024.

Simbi Wabote, the former Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), has denied reports that he was arrested by the Economic and Financial Crimes Commission (EFCC).

On Wednesday, reports emerged claiming that Wabote had been arrested in connection with NCDMB’s investments in a modular refinery project by Atlantic International Refinery and Petrochemical Limited for Brass Island in Bayelsa State.

In a statement, Wabote refuted the arrest claims, clarifying that he was invited by the EFCC for a routine visit. He explained that he honored the EFCC’s invitation on Tuesday, arriving at 2 pm and leaving at 6:30 pm after providing a statement.

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“I was supposed to visit on the 29th of October, but I informed them I would be traveling abroad and would come upon my return. Yesterday (Tuesday), I arrived, gave my statement, and then went home to rest,” he said.

Wabote further emphasized that there was no fraud linked to Atlantic International Refinery and Petrochemical Limited. Instead, he described the situation as a company facing cash flow challenges. He also dismissed claims that NCDMB made a poor investment in the company, stating, “We have invested in about 17 opportunities, most of which are progressing well. The only challenge is with the Atlantic refinery.

Wabote

The promoter has not abandoned the project. He has written to the NCDMB seeking a plan to buy us out, and the board has already made a resolution.”

The former NCDMB head explained that the promoter of the refinery project had acknowledged the cash flow difficulties but was committed to completing the project, adding, “It’s just a business challenge, not fraud or a scam.”

Earlier, Minister of State for Petroleum Resources, Heineken Lokpobiri, had accused Wabote of misappropriating funds and making poor investments. In April, Lokpobiri claimed the government was reviewing loans and projects worth an estimated $500 million executed by the NCDMB, alleging that Wabote had squandered funds on questionable ventures.

Wabote responded to these allegations by calling Lokpobiri’s statements “reckless,” noting that the accusations were not new to him. He recalled an incident in December 2023 when Lokpobiri’s aide had asked him to increase the NCDMB budget by N30 billion for the minister’s office, a request Wabote rejected, stating that such a request had never been made before.

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