A witness of the Financial and Monetary Crimes Fee, EFCC, on Tuesday instructed a Federal Excessive Court docket in Abuja, that former Minister of State for Petroleum, Timipre Sylva, gave him verbal instruction for the payment of $13.45 million, being a part of funds for the constructing of a 2000 bpd refinery in Brass Island of Bayelsa State.
The witness, a former Director of the Nigerian Content material Growth and Monitoring Board, NCDMB, Mr Isaac Yalah, made the declare whereas giving proof within the alleged fraud trial of an oil magnate, Dr Akintoye Akindele.
Will probably be recalled that the EFCC had final month declared the previous Minister wished in reference to an alleged case of conspiracy and dishonest conversion of the sum of $14,859,257, being a part of funds injected by the NCDMB into Atlantic Worldwide Refinery and Petrochemical Restricted for the development of a Refinery.
A press release by the spokesman of the EFCC, Mr Dele Oyewale, had disclosed {that a} warrant for the arrest of the previous Minister was secured on November 6, 2025, from a Federal Excessive Court docket sitting in Lagos.
The EFCC is prosecuting Akindele and two firms linked to him, over alleged complicity within the conversion of the sum of $35 million {dollars} belonging to the NCDMB.
In keeping with the cost, the mentioned sums have been allegedly transformed from the cash paid by the NCDMB Capability Growth Intervention Firm Ltd to Atlantic Worldwide Refinery and Petrochemical Restricted as funding within the institution of a modular refinery, a jetty amongst others in Brass, Bayelsa State.
Nonetheless, the witness who claimed to be the Director of Finance and Personnel for six and half years, earlier than he was resigned as Director of Planning, Analysis and Statistics, knowledgeable the courtroom that the challenge embarked by the NCDMB along side Atlantic Worldwide Refinery and Petrochemical Ltd, stays deserted until date regardless of the payment of $35 million being the overall price of the challenge.
Led in proof by EFCC’s lawyer, Emmanuel Iheanacho, SAN, Yalah, who’s the 4th Prosecution Witness (PW4), narrated how Akindele’s proposal for the development of the Modular Refinery handed all 4 “determination gates” of the NCDMB resulting in the approval of the sum of $35 million for the challenge.
“When the proposal was authorized, extract of the Governing Council was despatched to the board… spotlight of the extract included that the NCDMB make investments $35 million to accumulate 40% fairness within the Atlantic Worldwide Refinery and Petrochemical Ltd”, he mentioned.
He acknowledged additional that NCDMB was required to offer two representatives within the board they usually have been additionally to function a joint challenge account to warehouse the $35 million.
Yalah instructed the courtroom that himself and the then Govt Secretary have been nominated as representatives of the NCDMB to the board of Atlantic Worldwide Refinery and Petrochemical Ltd.
“As well as, myself and the first defendant have been made co-signatories to the Venture Account”, he mentioned, including that the challenge account was opened within the title of Atlantic Worldwide Refinery and Petrochemical Ltd with Zenith Financial institution Plc.
The witness knowledgeable the courtroom that upon receipt of the funds within the challenge account a disbursement schedule was submitted by the first defendant to NCDMB exhibiting six milestones in December 2020.
“The sum of $21.55 million overlaying milestone 1 and a pair of have been paid into the Operation Account of Atlantic Worldwide Refinery and Petrochemical Ltd with Zenith Financial institution. In January 29, 2021, the remaining sum of $13.45 million was additional transferred from the challenge account to the operation account of Atlantic Worldwide 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 Sources and the instruction was given to me verbally.
“The Minister of State for Petroleum Sources then was Timipre Sylva. He was the chairman of the Governing Council of the NCDMB”, the witness acknowledged.
When requested if there was any report despatched to the NCDMB that milestone 1 and a pair of have been executed, the witness answered within the destructive.
He additionally acknowledged that there was no official report exhibiting the breakdown of the $21.5 million was spent. “Nonetheless in our board conferences of Atlantic Worldwide Refinery and Petrochemical Ltd proof of labor performed and providers was primarily based on the preliminary disbursement have been offered.
“This consists of ongoing cite clearing and sand-filling, renovation of well being middle at Brass Island, renovation of water system in Brass, being the neighborhood the place the challenge was being performed, payment for energy system (generator), knowledge middle and a few advance payment for the refinery”, he defined.
Whereas noticed that the challenge was speculated to be accomplished inside 24 months, the witness mentioned, “this challenge which the NCDMB paid $35 million has not been accomplished up until now. The challenge presently because it stands is deserted.
“I’m not conscious of any request for variation when it comes to price of supplies, aside from it been mentioned on the Atlantic Worldwide Refinery and Petrochemical Ltd board conferences”, he mentioned.
He additionally claimed not to concentrate on any work performed in respect of milestones 3 – 6.
“I used to be solely a signatory to the challenge account of Atlantic Worldwide Refinery and Petrochemical Ltd, I used to be not a signatory to the operation account. The first defendant and his administration staff have been the signatories to the operation account”, witness added.
After the tip of proof, trial decide, Justice Ekerete Akpan, adjourned until December 3, for cross examination of the witness by attorneys to the defendants.
Akindele was arraigned alongside two others on a 4 depend cost bordering on retaining and utilizing a number of quantity of the NCDMB’s funds regardless of having data that they emanate from an illegal lively.
The 2 different defendants within the go well with marked: FHC/ ABJ/ CR/ 641/2024, are Platform Capital Funding Companions Ltd and Duport Midstream Firm Ltd.
He nevertheless, pleaded not responsible and was admitted to bail to allow him put together adequately for his trial.
His arraignment was following a petition by a former member of the Bayelsa State Home of Meeting, Hon. Isreal Sunny Goli.
The lawmaker had final 12 months petitioned the EFCC over the disbursement of funds for the Brass Fertilizer and Petrochemical Firm Ltd, Atlantic Worldwide Refinery and Petrochemical Restricted and the Brass Petroleum Product Terminal Restricted underneath the rapid Govt Secretary of the NCDMB, Kiyesi Simbi Wabote.
In keeping with him, the NCDMB secretary had knowledgeable them that the sum of $30 million for the challenge have been paid in full, sadly nothing tangible was performed on the challenge web site.
In the meantime, the EFCC final month amended the cost towards the defendants from 4 to 6.
