Categories
AFNewsNG Logo
Crime Special Report

NCDMB's $35 Million Brass Refinery Project Fr@ud: EFCC Confirms Ex-NCMB Boss' Arrest

Thompson Nsisongabasi

Nov 14, 2024

mail

The EFCC has arrested Timber Wabote, former NCDMB head, for allegedly misappropriating $35 million meant for a Bayelsa refinery project.

READ ALSO: Barcelona shortlist three men to replace Luis Enrique - but current boss could yet stay

The Economic and Financial Crimes Commission (EFCC) told FIJ that they have arrested Timber Wabote, the former executive secretary of the Nigerian Content Development and Monitoring Board (NCMB), on the grounds of a failed $35 million Bayelsa refinery project fraud.

READ ALSO: INEC Sued Over 'Missing' 55.9bn 2019 Election Funds

Dele Oyewale, the EFCC's spokesperson, confirmed this to FIJ on Thursday.

READ ALSO: How Kidnapped Bethel Baptist Students Escaped From Abductors

"It is true,ÔÇØ Oyewale responded to FIJ's inquiries.

READ ALSO: NANS Faults ASUU, Says Union Has Ulterior Motive |Read Details

Wabote is accused of misappropriating public funds for a refinery project that should have improved local energy production.

READ ALSO: 2 Billion Scandal: Inside Gavice Logistics, EFCC's Probe, and the Future of Its CEO

Vanguard reported that the NCDMB under Wabote paid $35 million to support the development of energy infrastructure in the Brass Local Government Area of Bayelsa, yet there was nothing to show for it.

READ ALSO: Adeleke Sacks Monarchs Appointed By Oyetola, Orders Staff Audit

The EFCC picked Wabote up following the arrest of Akintoye Adeoye Akindele, the Managing Director of Atlantic International Refinery and Petrochemical Limited, for alleged misappropriation, money laundering and diversion of $35 million in public funds.

READ ALSO: How NDLEA Finally Captured Drug Kingpin Who Killed Three Officers After 12 Years on the Run

"NCDMB under the watch of Wabote allegedly paid the $35 million to Akindele to build a 2,000 barrel per day (BPD), refinery, jetty, gas plant, power plant, data centre and tank farm at Brass free trade zone (FTZ), Okpoama Community in Brass LGA of Bayelsa State,ÔÇØ a source with the EFCC had explained.

READ ALSO: Popular Islamic Cleric Found Dead In Zamfara

Since December 2020 when the payments were made, Akindele abandoned the project with little or nothing to show for the huge sum he received.

READ ALSO: Abia YPP Guber Candidate, Chima Nwafor Celebrates Ada Eme On Winning MBGN

Preliminary investigations showed that Wabote's NCDMB financed 17 different projects, including the 2,000 BPD refinery in Brass LGA.

READ ALSO: How NDLEA Uncovered a Massive Lekki Drug Lab and Arrested Its Saudi-Bound Owner | SEE PHOTOS

There has been a series of public fund misappropriation cases in the energy sector in recent times.

READ ALSO: Political Tensions Soar as Rivers Assembly Factions Hold Parallel Sessions

FIJ earlier reported that members of the House of Representatives summoned three ministers to defend how over $2 billion was spent on renewable energy with not much to show for it.

READ ALSO: How Suspects Used Fake Alert to Acquire 75m Mercedes Benz GLE In Kano

A recent report by FIJ also recently detailed how residents of Yenagoa, the capital of Bayelsa, have not had power in their homes since July due to the vandalisation of the Ahoada-Yenagoa transmission towers caused by unidentified persons.

READ ALSO: Barcelona shortlist three men to replace Luis Enrique - but current boss could yet stay

The Bayelsa state government told FIJ it was the federal government's responsibility to provide electricity for residents. The state has no renewable energy options reliable enough to power its capital despite the multi-million-dollar NCMB energy project.

READ ALSO: INEC Sued Over 'Missing' 55.9bn 2019 Election Funds

Transparency in the energy sector has become necessary at a time when Nigerians have suffered power instability due to frequent grid collapses.

Related Stories

""

— Thompson Nsisongabasi

Join the Conversation

Signed in as Member