The immediate past Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote, has refuted reports claiming that he was arrested by the Economic and Financial Crimes Commission (EFCC) over the board’s investment in a modular refinery project by Atlantic International Refinery and Petrochemical Limited on Brass Island in Bayelsa State.
In a telephone conversation with journalists on Wednesday, Wabote clarified that his visit to the EFCC on Tuesday was a routine engagement, emphasizing that he was not under arrest.
“I was supposed to go there on the 29th of October but informed them I would be travelling. I went in yesterday, gave my statement, and left by 6:30 pm,” he explained.
He also dismissed allegations of fraudulent investment by the NCDMB in Atlantic International Refinery, noting that the project is facing cash flow issues rather than any case of financial misconduct.
“The promoter of Atlantic Refinery hasn’t abandoned the project; they’re facing a cash flow challenge and have offered to buy out the board’s investment if we prefer not to proceed with them,” Wabote said.
Wabote revealed that under his tenure, NCDMB had invested in 17 different projects, with most progressing well.
“The Atlantic refinery is the only one encountering difficulties, and it’s a business challenge, not a fraud or scam,” he stated, adding that the promoter has shown commitment to resolving the situation.
Expressing disappointment over the spread of false information, Wabote remarked, “It’s disheartening that some media outlets would fabricate such stories to tarnish someone’s reputation.”
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