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Court Remands Refinery MD In Kuje Correctional Centre Over Alleged $35m Scam
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The Economic and Financial Crimes Commission, on Monday, December 23, 2024, arraigned the Managing Director of Atlantic International Refinery and Petrochemical Limited, Akindele Akintoye at the Federal High Court, Abuja, over an alleged $35 million fraud.
He was arraigned before Justice Emeka Nwite on charges bordering on money laundering and contract fraud.
On October 31, 2024, Akintoye was arrested by the EFCC and detained at its holding facility in Abuja.
According to a tweet via the commission’s X handle on Wednesday, Akintoye allegedly collected $35m from the Nigeria Content Development and Monitoring Board to build a 2,000 barrel-per-day refinery, jetty, gas plant, among others, at the Brass Free Trade Zone, Okpoama community in Brass Local Government Area of Bayelsa State.
He “allegedly mooted the idea of the project to the Board and the NCDMB embraced it with a counterpart funding to the tune of $35million. He allegedly received the funds through the bank account of Atlantic International Refinery and Petrochemical Limited and funneled the funds into four of his companies: Platform Capital Investment Partners, Duport Midstream Company Ltd., Puisance Afrique Dynamics Ltd., Adamantine Petrochemical & Refinery Ltd and Bureau de Change outlets,” the tweet stated.
At the court sitting on Monday, EFCC counsel, Ekele Iheanacho, told the court that the defendant faced a four counts filed on November 19, 2024, and requested that the charges be read to the defendant.
One of the counts read, “That you, Akindele Akintoye, and Platform Capital Investment Partners Limited, between December 2020 and February 2021, within the jurisdiction of this Honourable Court, indirectly retained the sum of $16,006,000 (Sixteen Million, Six Thousand United States Dollars), being part of the funds dishonestly converted from the money paid by the NCDMB to Atlantic International Refinery and Petrochemical Limited as investment, knowing the said sum constituted proceeds of unlawful activity, thereby committing an offence contrary to Section 15(2)(d) of the Money Laundering (Prohibition) Act, 2011 (as amended by Act No. 1 of 2012) and punishable under Section 15(3) of the same Act.”
The EFCC noted that Akintoye pleaded “not guilty” after the charges were read to him. Thereafter, the anti-graft agency’s counsel requested the court to remand Akintoye in a correctional centre, and then sought a trial date.
However, the defendant’s counsel, Emmanuel Esadio applied for bail, stating that the application was filed and served on the prosecution.
In his response, Justice Nwite stressed the importance of allowing the prosecution to respond to the bail application, noting that the law requires a 48-hour period before a bail application can be considered.
“Justice is tripartite, to the accused, the defendant, and society. I cannot shut out the prosecution, they must be heard,” the Judge said.
“Esadio further requested that the defendant be remanded in EFCC custody, citing his client’s health issues and the need for easy access to legal counsel.
“But Iheanacho opposed the request, arguing that the EFCC lacked adequate facilities and that Akintoye had demonstrated untrustworthiness, including allegedly retrieving his international passport after claiming it was in court custody,” the tweet read.
“The defendant cannot be trusted. He has shown tendencies that suggest he may commit another crime. Additionally, there is no medical evidence before the court to support claims of ill health,” Iheanacho submitted.
After considering the arguments, the judge ordered Akintoye’s remand at the Kuje Correctional Centre and adjourned the matter till December 31, 2024, for hearing on the bail application.
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By Francesca Hangeior
The Nigerian Meteorological Agency has warned of a flash flood risk alert for the first dekad of July (July 1–10).
NiMET warns that widespread rainfall expected during the period could trigger flooding across 27 states as the country enters the peak of the rainy season.
In the advisory, NiMet attributed the heightened risk to the persistent rainfall experienced in June, which it said has left soils across much of the country unable to absorb additional precipitation.
“Following widespread rainfall recorded across many parts of Nigeria in June, soils have become heavily saturated, reducing their ability to absorb additional rainfall.
“As July marks the beginning of the peak rainy season, the risk of flash flooding is expected to increase, particularly in low-lying, urban, coastal, and poorly drained areas,” the Sunday statement read.
According to the agency, states likely to experience flash flooding during the period include “Taraba, Sokoto, Borno, Zamfara, Kebbi, Katsina, Kaduna, Nasarawa, Plateau, Adamawa, Kwara, Kogi, Oyo, Ogun, Lagos, Osun, Ekiti, Delta, Edo, Abia, Imo, Anambra, Enugu, Akwa Ibom, Cross River, Rivers and Bayelsa.”
It warned that the anticipated heavy rainfall could have far-reaching consequences for transportation, public utilities, agriculture, infrastructure and public health.
The weather agency asserted that the heavy rainfall could “trigger localized flooding, resulting in traffic gridlock, road closures and disruptions to transportation.”
The agency also cautioned that “temporary power and telecommunications outages may occur in affected areas, while poor visibility during intense rainfall could pose risks to motorists and aviation operations.”
The forecast further highlighted the potential for waterlogging of farmlands, with possible crop losses, as well as damage to roads, bridges, drainage infrastructure and other public facilities.
Health officials were also urged to remain vigilant over the increased risk of waterborne diseases associated with stagnant floodwaters and poor sanitation.
To minimise the impact of the expected flooding, NiMet urged residents and emergency responders to take preventive measures without delay.
The agency advised Nigerians to: “Follow weather forecasts and flash flood advisories issued by NiMet; keep drains, gutters, and waterways free of refuse to ensure the free flow of water.
“Also, it said it should secure loose outdoor objects and reinforce vulnerable structures; and avoid walking or driving through floodwaters.”
By Francesca Hangeior
The Federal Government has concluded arrangements to evacuate 270 Nigerians from South Africa as part of its ongoing repatriation exercise for citizens willing to return home.
The returnees are expected to arrive at the Murtala Muhammed International Airport, Lagos, in the early hours of Wednesday aboard an Air Peace aircraft deployed for the evacuation.
The latest evacuation follows the Federal Government’s continued efforts, through the Nigerian High Commission in Pretoria and other relevant agencies, to facilitate the voluntary return of Nigerians facing various challenges in South Africa.
Announcing the schedule for the operation in a statement by the spokesperson for the Ministry of Foreign Affairs, Kimiebi Imomotimi Ebienfa, on Monday, the FG disclosed that the aircraft would depart Lagos on Tuesday afternoon for Johannesburg, before returning with the evacuees overnight.
The statement read, “In continuation of the ongoing evacuation of our nationals from South Africa, the Air Peace aircraft deployed for the process is expected to depart Lagos tomorrow, Tuesday 7 July, 2026, for Johannesburg, South Africa at 3.30 p.m.
“The aircraft will depart Johannesburg for Lagos with 270 returnees at 12.00 midnight, and the estimated time of arrival at the Murtala Muhammed International Airport, Lagos is 5.00 a.m. on Wednesday, 8 July, 2026, all things being equal.”
It could be recalled that the Federal Government has, over the years, undertaken several evacuation exercises involving Nigerians stranded abroad due to security concerns, economic hardship, immigration issues and humanitarian emergencies.
Air Peace has also played a key role in previous government-assisted evacuation missions, including the repatriation of Nigerians from countries affected by conflicts and other crises.
The latest exercise underscores the government’s commitment to ensuring the safe return of its citizens who have indicated a willingness to come back to Nigeria.
The Federal Government assured Nigerians still residing in South Africa of their safety, even as fresh concerns over xenophobic tensions and renewed anti-immigrant protests continue to trigger calls for stronger diplomatic action.
The assurance came after Nigerians reportedly stormed the country’s embassy in Pretoria as xenophobic tensions escalated, while another batch of 269 Nigerians evacuated from South Africa arrived at the Murtala Muhammed International Airport, Lagos, on Tuesday aboard an Air Peace flight from Johannesburg at 10.48 am, marking the second government-coordinated evacuation exercise in recent weeks.
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