Alleged $35m NCDMB Fraud: Former Petroleum Minister Sylva Gave Me Verbal Instruction for Payment of $13.45m, Witness Tells Court

*Says project remains abandoned since 2020

Alex Enumah in Abuja

A witness of the Economic and Financial Crimes Commission (EFCC) on Tuesday told a Federal High Court in Abuja, that former Minister of State for Petroleum Resources, Timipre Sylva, gave him verbal instruction for the payment of $13.45 million, being part of funds for the building of a 2000 bpd refinery in Brass Island of Bayelsa State.

The witness, a former Director of the Nigerian Content Development and Monitoring Board (NCDMB), Mr Isaac Yalah, made the claim while giving evidence in the alleged fraud trial of an oil magnate, Dr Akintoye Akindele.

Recall that the commission had last month declared Sylva wanted in connection with an alleged case of conspiracy and dishonest conversion of the sum of $14,859,257, being part of funds injected by the Nigerian Content Development and Monitoring Board( NCDMB) into Atlantic International Refinery and Petrochemical Limited for the construction of a Refinery.

A statement by the Spokesman of the EFCC, Mr Dele Oyewale, had disclosed that a warrant for the arrest of the former Minister was secured on November 6, 2025, from a Federal High Court sitting in Lagos.

The EFCC is prosecuting Akindele and two companies linked to him, over alleged complicity in the conversion of the sum of $35 million dollars belonging to the NCDMB.

According to the charge, the said sums were allegedly converted from the money paid by the NCDMB Capacity Development Intervention Company Ltd to Atlantic International Refinery and Petrochemical Limited as investment in the establishment of a modular refinery, a jetty amongst others in Brass, Bayelsa State.

However, the witness who claimed to be the Director of Finance and Personnel for six and half years, before he was resigned as Director of Planning, Research and Statistics, informed the court that the project embarked by the NCDMB in conjunction with Atlantic International Refinery and Petrochemical Ltd, remains abandoned till date despite the payment of $35 million being the total cost of the project.

Led in evidence by EFCC’s lawyer, E. E Iheanacho, SAN, Yalah, who is the 4th Prosecution Witness (PW4), narrated how Akindele’s proposal for the construction of the modular refinery passed all four “decision gates” of the NCDMB leading to the approval of the sum of $35 million for the project.

“When the proposal was approved, extract of the Governing Council was sent to the board… highlight of the extract included that the NCDMB invest $35 million to acquire 40% equity in the Atlantic International Refinery and Petrochemical Ltd”, he said.

He stated further that NCDMB was required to provide two representatives in the board and they were also to operate a joint project account to warehouse the $35 million.

Yalah told the court that himself and the then Executive Secretary were nominated as representatives of the NCDMB to the board of Atlantic International Refinery and Petrochemical Ltd.

“In addition, myself and the 1st defendant were made co-signatories to the Project Account”, he said, adding that the project account was opened in the name of Atlantic International Refinery and Petrochemical Ltd with Zenith Bank Plc.

The witness informed the court that upon receipt of the funds in the project account a disbursement schedule was submitted by the 1st defendant to NCDMB showing six milestones in December 2020.

“The sum of $21.55 million covering milestone 1 and 2 were paid into the Operation Account of Atlantic International Refinery and Petrochemical Ltd with Zenith Bank. In January 29, 2021, the remaining sum of $13.45 million was further transferred from the project account to the operation account of Atlantic International Refinery and Petrochemical Ltd.

“The second tranche of payment accounts for milestones 3-6, the payment was made on the instruction of the then Minister of State for Petroleum Resources and the instruction was given to me verbally. The Minister of State for Petroleum Resources then was Timipre Sylva. He was the chairman of the Governing Council of the NCDMB”, the witness stated.

When asked if there was any report sent to the NCDMB that milestone 1 and 2 were executed, the witness answered in the negative.

He also stated that there was no official report showing the breakdown of the $21.5 million was spent. “However in our board meetings of Atlantic International Refinery and Petrochemical Ltd evidence of work done and services was based on the initial disbursement were presented. This includes ongoing cite clearing and sand-filling, renovation of health center at Brass Island, renovation of water system in Brass, being the community where the project was being done, payment for power system (generator), data center and some advance payment for the refinery”, he explained.

While observed that the project was supposed to be completed within 24 months, the witness said, “this project which the NCDMB paid $35 million has not been completed up till now. The project currently as it stands is abandoned.

“I am not aware of any request for variation in terms of cost of materials, other than it been discussed at the Atlantic International Refinery and Petrochemical Ltd board meetings”, he said.

He also claimed not to be aware of any work done in respect of milestones 3 – 6.

“I was only a signatory to the project account of Atlantic International Refinery and Petrochemical Ltd, I was not a signatory to the operation account. The 1st defendant and his management team were the signatories to the operation account”, witness added.

After the end of evidence, trial judge, Justice Ekerete Akpan, adjourned till December 3, for cross examination of the witness by lawyers to the defendants.

Akindele was arraigned alongside two others on a four count charge bordering on retaining and using several amount of the NCDMB’s funds despite having knowledge that they emanate from an unlawful active.

The two other defendants in the suit marked: FHC/ ABJ/ CR/ 641/2024, are Platform Capital Investment Partners Ltd and Duport Midstream Company Ltd.

He however, pleaded not guilty and was admitted to bail to enable him prepare adequately for his trial.

His arraignment was following a petition by a former member of the Bayelsa State House of Assembly, Hon. Isreal Sunny Goli.

The lawmaker had last year petitioned the EFCC over the disbursement of funds for the Brass Fertilizer and Petrochemical Company Ltd, Atlantic International Refinery and Petrochemical Limited and the Brass Petroleum Product Terminal Limited under the immediate Executive Secretary of the NCDMB, Kiyesi Simbi Wabote.

According to him, the NCDMB secretary had informed them that the sum of $30 million for the project have been paid in full, unfortunately nothing tangible was done at the project site.

Meanwhile, the EFCC last month amended the charge against the defendants from four to six.