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From Godwin Tsa, Abuja
A prosecution witness and former Director of the Nigerian Content Development and Monitoring Board (NCDMB), Mr Isaac Yalah, has told a Federal High Court in Abuja that former Minister of State for Petroleum, Timipre Sylva, gave him verbal instructions for the payment of $13.45 million, being part of funds for the construction of a 2,000 bpd refinery on Brass Island, Bayelsa State.
Yalah was testifying as the fourth prosecution witness (PW4) of the Economic and Financial Crimes Commission (EFCC) in the fraud trial of oil magnate Dr Akintoye Akindele. The EFCC is prosecuting Akindele and two companies linked to him for alleged complicity in the conversion of $35 million belonging to the NCDMB.
According to the charge, the funds were allegedly converted from 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, and other projects in Brass, Bayelsa State.
Last month, the commission declared Timipre Sylva wanted in connection with an alleged case of conspiracy and dishonest conversion of $14,859,257—part of the funds injected by the NCDMB into Atlantic International Refinery and Petrochemical Limited for the construction of a refinery.
A statement by the EFCC spokesman, Mr Dele Oyewale, confirmed that a warrant for Sylva’s arrest was secured on 6 November 2025 from a Federal High Court sitting in Lagos.
The witness, who said he served as Director of Finance and Personnel for six and a half years, and later as Director of Planning, Research and Statistics, told the court that the project undertaken by the NCDMB in conjunction with Atlantic International Refinery and Petrochemical Ltd remains abandoned to date, despite the $35 million paid for the project.
Led in evidence by prosecution counsel Emmanuel Iheanacho, SAN, Yalah described how Akindele’s proposal for the modular refinery passed all four “decision gates” at the NCDMB, securing approval for a $35 million investment.
“When the proposal was approved, extract of the Governing Council was sent to the board. A highlight of the extract included that the NCDMB invest $35 million to acquire 40% equity in Atlantic International Refinery and Petrochemical Ltd,” he said.
He stated further that the NCDMB was to provide two representatives on the board, also operating a joint project account to warehouse the $35 million.
Yalah told the court that he and the then Executive Secretary were nominated as NCDMB representatives 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.
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The witness said that upon receipt of the funds, a disbursement schedule was submitted by the 1st defendant to the NCDMB, outlining six milestones in December 2020.
“The sum of $21.55 million covering milestones 1 and 2 were paid into the operation account of Atlantic International Refinery and Petrochemical Ltd with Zenith Bank. On 29 January 2021, the remaining $13.45 million was transferred from the project account to the operation account of the company.
“The second tranche of payment, for milestones 3 to 6, was made on the instruction of the then Minister of State for Petroleum Resources, given to me verbally. The Minister at the time was Timipre Sylva, chairman of the NCDMB Governing Council,” the witness stated.
When asked if any report was sent to the NCDMB confirming completion of milestones 1 and 2, the witness replied in the negative. He also said there was no official report showing the breakdown of the $21.55 million expenditure. “However, in our board meetings, evidence of work and services was presented, including ongoing site clearing and sand filling, health centre renovation at Brass Island, water system renovation, payment for power (generator), data centre, and some advance payment for the refinery,” he explained.
The witness noted that the project was expected to be completed within 24 months. “This project, for which the NCDMB paid $35 million, has not been completed. It currently stands abandoned,” he said.
He added that he was not aware of any work done in respect of milestones 3 to 6. “I was only a signatory to the project account, not to the operation account. The 1st defendant and his management team were the sole signatories to the operation account,” he stated.
After the evidence, trial judge Justice Ekerete Akpan adjourned proceedings to 3 December for cross-examination by the defence lawyers.
Akindele was arraigned alongside two others on a four-count charge relating to retaining and using NCDMB funds despite knowledge that they originated from unlawful acts. The two other defendants in suit FHC/ABJ/CR/641/2024 are Platform Capital Investment Partners Ltd and Duport Midstream Company Ltd.
He pleaded not guilty and was granted bail to enable him to prepare for trial. His arraignment followed a petition by former Bayelsa State House of Assembly member, Hon Israel Sunny Goli, concerning the disbursement of NCDMB funds for Brass Fertilizer and Petrochemical Company Ltd, Atlantic International Refinery and Petrochemical Limited, and Brass Petroleum Product Terminal Ltd under the former Executive Secretary, Kiyesi Simbi Wabote.
Goli said the NCDMB secretary had informed them that $30 million had been paid in full for the project, yet nothing tangible was done at the site.
Meanwhile, the EFCC last month amended the charge against the defendants from four to six counts.
