Breaking: Ex-NCDMB Executive Secretary Arrested In Multi-Million Dollar Scam

Breaking: Ex-NCDMB Executive Secretary Arrested In Multi-Million Dollar Scam

The Economic and Financial Crimes Commission (EFCC) has apprehended Timber Kesiye Wabote, the former Executive Secretary of the Nigeria Content Development and Monitoring Board (NCDMB), in connection…CONTINUE READING…

with an alleged $35 million fraud tied to the Brass Project.

Sources confirm that Wabote’s arrest is linked to a failed refinery project where $35 million was allocated but not properly utilized.

Wabote’s detention follows the earlier arrest of Akintoye Adeoye Akindele, the Managing Director of Atlantic International Refinery and Petrochemical Limited. Akindele is facing charges of misappropriation, money laundering, and the diversion of $35 million in public funds.

Currently held at the EFCC’s Abuja facility, Wabote’s involvement stems from his leadership role at NCDMB from 2016 to 2023. Investigations reveal that the NCDMB provided counterpart funding for the Energy Infrastructure Park project, which was meant to include a refinery, jetty, gas plant, and other facilities in Okpoama, Bayelsa State.

Reports indicate that despite the $35 million being paid to Akindele to complete the project, minimal progress was made, with the project abandoned since December 2020.

Under Wabote’s watch, the NCDMB financed multiple projects, including the $35 million for the Brass FTZ, but it is alleged that these funds were not appropriately used.