EFCC arrests former NCDMB boss, Wabote, over alleged $35m fraud

The Economic and Financial Crimes Commission (EFCC), on Wednesday, arrested Timber Kesiye Wabote, the former Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), in connection with a $35 million fraud linked to the failed Brass Project in Bayelsa State.

Wabote’s arrest follows the earlier detention of Akintoye Adeoye Akindele, Managing Director of Atlantic International Refinery and Petrochemical Limited, who faces charges of money laundering, misappropriation, and diversion of public funds.

Under Wabote’s leadership, the NCDMB allegedly provided $35 million in counterpart funding for an Energy Infrastructure Park in Okpoama Community, Brass Local Government Area, Bayelsa State.

The project, designed to process 2,000 barrels of oil per day, included a refinery, jetty, gas plant, power plant, data center, and tank farm. However, investigations reveal that the project was abandoned in December 2020 with minimal progress made.

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A source revealed that Wabote’s NCDMB paid Akindele $35 million to build the refinery and infrastructure, but the project was abandoned with little to show for the funds. Preliminary investigations indicate that Wabote’s NCDMB financed 17 projects, including the Brass Free Trade Zone initiative.

“The EFCC is taking this case seriously, and we will ensure that justice is served,” said Dele Oyewale, EFCC spokesman, confirming Wabote’s arrest and detention.

Wabote’s tenure as NCDMB Executive Secretary from 2016 to 2023 saw multiple investments, including the $35 million allocated for the Brass Free Trade Zone. The EFCC is currently detaining him at its Abuja facility and pursuing other suspects involved in the case.

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