The 58-year-old was arrested this morning (May 11) in connection with the incident, and remains in police custody at this time.
Detective Sergeant Gardiner said: “Our enquiries continue, and I would reiterate our appeal for anyone with information to get in touch.
“The viable device was located in the Tullyview area on Sunday 16 January, and was subsequently made safe by Ammunition Technical Officers.
“This was a reckless and cowardly act, with potentially devastating consequences. It has no place whatsoever in today’s society and is certainly not supported by the local community.”
Anyone with information is asked to contact detectives on 101, quoting reference number 459 of 16/01/22.
Information can also be provided to Crimestoppers anonymously on 0800 555 111 or online at www.crimestoppers-uk.org