Brass Project: EFCC Arrests Wabote on $35m Fraud Allegation
The Economic and Financial Crimes Commission (EFCC) has arrested Timber Kesiye Wabote, the former Executive Secretary of the Nigeria Content Development and Monitoring Board (NCDMB), in connection with an alleged $35 million fraud linked to the failed Brass Project.
Wabote, who served as the head of the NCDMB from 2016 to 2023, was detained by the EFCC on Tuesday, following the earlier arrest of Mr. Akintoye Adeoye Akindele, the Managing Director of Atlantic International Refinery and Petrochemical Limited. Akindele is being investigated for alleged misappropriation, money laundering, and the diversion of public funds.
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The case revolves around a failed refinery project for which a staggering $35 million was paid. According to EFCC investigators, Akindele, who proposed the project to the NCDMB, received the funds in 2020 to build a refinery, gas plant, power plant, jetty, tank farm, and data center at the Brass Free Trade Zone in Okpoama Community, Bayelsa State. However, the project was abandoned with minimal progress made.
The EFCC’s preliminary investigation revealed that under Wabote’s leadership, the NCDMB funded a range of energy infrastructure projects, including the 2,000-barrel-per-day refinery. Despite the substantial sum disbursed, the project reportedly showed little to no development since the payments were made.
Wabote is currently being held at the EFCC’s Abuja facility, and authorities are reportedly pursuing further suspects in connection with the ongoing probe.
Source: The Nation
