The Economic and Financial Crimes Commission (EFCC) has detained Timber Kesiye Wabote, former Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), on charges of misappropriating $35 million in public funds earmarked for the Brass Project in Bayelsa State.
This project, intended to establish an Energy Infrastructure Park in Okpoama Community within the Brass Local Government Area, included plans for a refinery, jetty, gas plant, power plant, data center, and tank farm with a capacity to process 2,000 barrels of oil per day.
Wabote’s arrest follows the earlier detention of Akintoye Adeoye Akindele, Managing Director of Atlantic International Refinery and Petrochemical Limited.
Akindele faces charges of money laundering, fund diversion, and misappropriation related to the Brass Project, where he was appointed to oversee the development and construction of the facilities funded by NCDMB.
According to reports, Akindele received the $35 million from NCDMB, intended for the project’s progression, but minimal progress was made before the initiative was abandoned in December 2020.
Investigations by the EFCC suggest that Wabote, who served as NCDMB’s Executive Secretary from 2016 to 2023, was engaged in multiple investments, including the ambitious Brass Free Trade Zone initiative.
His arrest specifically concerns the alleged misuse of funds allocated for the Brass Project refinery, a critical element in NCDMB’s local content development mission. Wabote is currently being held in the EFCC’s Abuja facility as the agency continues its investigation into the scandal and scrutinizes other suspects potentially involved.
EFCC spokesman Dele Oyewale confirmed Wabote’s arrest on Wednesday but declined further comment on the case. Preliminary findings indicate that despite the substantial financial investment, little tangible progress was made, leaving the project abandoned and sparking concerns over the large-scale misappropriation of public funds.
