News
EFCC Arrests Ex-NCDMB Boss Wabote Over $35m Brass Project Fraud
The Economic and Financial Crimes Commission (EFCC) has arrested Timber Kesiye Wabote, former Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), over allegations of misappropriating $35 million linked to the stalled Brass Project in Bayelsa State.
The investigation links Wabote to a misuse of public funds intended for a large-scale refinery and infrastructure initiative aimed at enhancing local energy production.
Wabote’s arrest follows that of Akintoye Adeoye Akindele, Managing Director of Atlantic International Refinery and Petrochemical Limited, who faces charges of money laundering, fund diversion, and public fund misappropriation.
EDITOR’S PICKS
- Electricity Meter Costs Rise Again As Deregulation Takes Effect
- Biden, Harris Set To Congratulate Trump On Presidential Win
- Thousands Of ‘Trained’ Combatants Ready To Fight Israel – Hezbollah Chief
Under Wabote’s tenure, the NCDMB reportedly allocated $35 million in counterpart funding for the development of an Energy Infrastructure Park in Okpoama Community, Brass Local Government Area, Bayelsa State. This project was intended to feature a 2,000-barrel-per-day refinery, jetty, gas plant, power plant, data center, and tank farm.
However, investigations indicate that the project was largely abandoned by December 2020, with little to show for the substantial investment.
Sources reveal that NCDMB, under Wabote, allegedly disbursed the funds to Akindele to establish a refinery and related facilities at the Brass Free Trade Zone, but Akindele reportedly abandoned the project after receiving the payment.
FURTHER READING
- Hezbollah Launches 120 Projectiles From Lebanon Into Israel
- Full List of Chief of Army Staff Who Died in Office
- ECOWAS Court Partners ICRC To Domesticate International Humanitarian Law
During Wabote’s tenure from 2016 to 2023, NCDMB supported multiple projects, including this $35 million investment in the Brass Free Trade Zone. The EFCC, currently holding Wabote at its Abuja facility, is continuing its pursuit of additional suspects connected to the case.
EFCC spokesperson Dele Oyewale confirmed Wabote’s arrest and detention on Wednesday but withheld further details.
Here is video of the week
Advertise or Publish a Story on EkoHot Blog:
Kindly contact us at [email protected]. Breaking stories should be sent to the above email and substantiated with pictorial evidence.
Citizen journalists will receive a token as data incentive.
Call or Whatsapp: 0803 561 7233, 0703 414 5611
