A Federal High Court in Abuja heard startling testimony on Tuesday alleging that a former Minister of State for Petroleum Resources, Timipre Sylva, gave a verbal directive for the payment of $13.45 million linked to a controversial refinery project. The evidence forms part of a major fraud trial involving $35 million belonging to the Nigerian Content Development and Monitoring Board (NCDMB).
Courtroom Revelations on Abandoned Project
The fourth prosecution witness for the Economic and Financial Crimes Commission (EFCC), Mr. Isaac Yalah, a former Director of the NCDMB, provided these details in the trial of oil magnate Dr. Akintoye Akindele. Yalah informed Justice Ekerete Akpan that the $35 million was approved for NCDMB to acquire a 40% equity stake in Atlantic International Refinery and Petrochemical Limited (AIRPL). The project aimed to build a 2000 barrels-per-day modular refinery, a jetty, and other facilities on Brass Island in Bayelsa State.
Yalah, who served as the Director of Finance and Personnel, explained that he and the then-Executive Secretary of NCDMB were nominated as board representatives for AIRPL. He and Akindele were also made co-signatories to a dedicated project account at Zenith Bank meant to warehouse the funds.
The Disputed Payments and Ministerial Instruction
The witness detailed how the funds were disbursed. In December 2020, $21.55 million covering the first two project milestones was transferred to AIRPL's operational account. Then, on January 29, 2021, the remaining $13.45 million for milestones three to six was moved.
"The payment was made on the instruction of the then Minister of State for Petroleum Resources, and the instruction was given to me verbally," Yalah told the court. He identified the minister as Timipre Sylva, who was also the Chairman of the NCDMB Governing Council at the time.
Yalah testified that there were no official reports showing how the initial $21.55 million was spent, nor proof that the first milestones were completed. He stated that board meetings only presented evidence of preliminary work like site clearing, sand-filling, and community renovations.
Project Abandoned Despite Full Payment
Despite the full $35 million payment, Yalah revealed the project is completely abandoned. "This project, which the NCDMB paid $35 million for, has not been completed up till now. The project, as it stands, is abandoned," he stated. The project, originally slated for completion within 24 months, has yielded no functional refinery.
The witness clarified he was only a signatory to the project account, not the operational account controlled by Akindele and his team. He also claimed no awareness of any work done for milestones three to six, which the $13.45 million payment was meant to cover.
Legal Proceedings and Case Background
The trial follows an amended six-count charge against Akindele and two companies—Platform Capital Investment Partners Ltd and Duport Midstream Company Ltd. They are accused of retaining and using NCDMB funds known to be from unlawful activity. Akindele has pleaded not guilty.
The case originated from a petition by a former Bayelsa State lawmaker, Hon. Isreal Sunny Goli, concerning fund disbursements for projects under the former NCDMB Executive Secretary, Simbi Wabote. The EFCC had earlier declared the former minister wanted for alleged conspiracy and dishonest conversion of funds, securing an arrest warrant on November 6, 2025.
Justice Akpan has adjourned the case to December 3 for the cross-examination of the witness by the defence lawyers.
