The Economic and Financial Crimes Commission (EFCC) has arrested Timber Kesiye Wabote, the former Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), over allegations of a $35 million fraud linked to the failed Brass project.
The EFCC’s investigation centers on the NCDMB’s disbursement of $35 million to Atlantic International Refinery and Petrochemical Limited for the construction of a 2,000-barrel-per-day refinery, jetty, gas plant, power plant, data center, and tank farm at the Brass Free Trade Zone in Bayelsa State. The project, initiated in December 2020, has reportedly seen little to no progress, raising concerns about the potential misappropriation of funds……..CONTINUE READING
In addition to Wabote, the EFCC has detained Akintoye Akindele, Managing Director of Atlantic International Refinery and Petrochemical Limited, in connection with the alleged misappropriation, money laundering, and diversion of public funds related to this project.
The EFCC’s actions underscore its commitment to investigating and prosecuting financial crimes, particularly those involving public funds and high-profile individuals. The outcomes of these investigations are anticipated to have significant implications for Nigeria’s efforts to combat corruption and ensure accountability in public office.
