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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.

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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.

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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.

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“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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JUST IN: Four Feared Dead, Others Injured As Driver Rams Into Soldiers In Lagos

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Four soldiers attached to the Myoung Barracks in the Morocco area of Shomolu in Lagos are feared dead, and others were injured after a suspected drunk driver rammed into them.

According to The PUNCH, the driver rammed into the soldiers during their monthly road jogging outside the barracks in the early hours of Friday.

Speaking with our correspondent, an eyewitness named Priscilla, who lives in the area, said the Toyota vehicle had three young men as the occupants, running at full speed before ramming into the soldiers.

She said after the accident happened, the young men attempted to run away but were apprehended and beaten while their vehicle was vandalised.

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According to the eyewitness, one of the young men was stabbed.

She said, “The incident happened in the early hours of this morning when the soldiers were doing their monthly morning road walk when the young men rammed into the soldiers in front of the barracks.

“Four of the soldiers were dead, and many of them were seriously injured. After the incident, the boys attempted to run away but were apprehended and mercilessly beaten to a stupor while their vehicle was vandalised. Also, one of the boys was stabbed by the soldiers.

“The incident has caused panic among the residents in the area.”

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As of the time of filing this report, the Deputy Director of Army Public Relations, 81 Division, Olabisi Ayeni, and the spokesperson of the Lagos State Police Command, Benjamin Hundeyin, have yet to respond to the messages sent to their phones.

More to come…

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They’ll Soon Send Us All  To Jail—  Atiku Slams Tinubu’s Govt

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By Kayode Sanni-Arewa

Ex-Vice President of Nigeria, Atiku Abubakarhas slammed President Bola Tinubu’s administration over the prosecution of Omoyele Sowore, the publisher of Sahara Reporters.

Atiku said Sowore’s prosecution, as well as the arrest and detention of Prof Usman Yusuf, a former Executive Secretary of the National Health Insurance Scheme (NHIS), amount to “systematic harassment and intimidation.”

Recall operatives of the Economic and Financial Crime Commission (EFCC) arrested Yusuf on Wednesday, January 28, 2025 over alleged N4 billion fraud, amongst others.

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Reacting to this via his official X handle on Thursday, January 30, 2025, Atiku described Sowore’s prosecution as baseless, adding that Tinubu’s government may soon imprison everyone who criticises his administration.

The presidential candidate of the Peoples Democratic Party (PDP) in the 2023 general election claimed that the alleged systematic harassment of critics and opposition figures and the purported dismantling of opposition parties were ploys to establish a one-party system.

He wrote: “When I made the clarion call that Tinubu and the APC were devoting their energies to the systematic harassment, intimidation, and dismantling of the opposition, all in service of their grand design for a one-party autocracy, I became the target of vicious attacks.

“The arrest and baseless prosecution of @YeleSowore is the latest chapter in this unrelenting campaign. Now, they have seen fit to add Professor Usman Yusuf— an outspoken critic of this administration — into their grim roster. At the pace they are going, it seems they may soon find themselves contending with the incarceration of every one of us.”

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Atiku’s comment corroborated his earlier claim that the APC is destroying opposition parties to achieve a one-party system.

While speaking as a panelist at a national conference held in Abuja recently, Atiku alleged that the ruling All Progressives Congress (APC) bribed opposition parties with N50 million to weaken their leadership ahead of the 2027 election.

His claim has sparked reactions from opposition parties, as the Labour Party and the All Progressives Grand Alliance (APGA) asked the former Vice President to provide concrete evidence to support his allegation.

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Matawalle To Amaechi: Stop Fueling Violence Or Face Fire

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By Kayode Sanni-Arewa

The Minister of State for Defence, Dr. Bello Muhammed Matawalle, has strongly condemned what he described as reckless and inciting remarks made by former Minister of Transportation, Rotimi Amaechi, concerning the leadership of President Bola Ahmed Tinubu.

Speaking at a recent conference in Abuja, Amaechi allegedly declared that Nigerian politicians must “steal, maim, and kill” to remain in power—an assertion Matawalle denounced as not only insulting to Nigerians but also a dangerous attempt to radicalize the youth and destabilize national security.

Reacting to the statement, Dr. Matawalle said:“It is both reckless and dangerous for a former public office holder to make such inflammatory remarks. At a time when the government is working tirelessly to consolidate national unity and security, no responsible leader should fan the flames of violence and political unrest.”

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He further warned against any attempt to mislead young Nigerians with a distorted narrative of violence and anarchy, emphasizing that “Nigeria is a sovereign nation governed by laws, not a jungle where power is seized through brute force.”

Let me make it clear: security agencies are on high alert. Any individual or group found inciting violence or attempting to destabilize this nation will face the full force of the law,” he added.

The statement, signed by Henshaw Ogubike, Director of Press and Public Relations at the Ministry of Defence, stressed that the government will not tolerate any form of subversive rhetoric aimed at undermining national unity or inciting lawlessness.

Matawalle reminded Amaechi that power is earned through democracy, not through intimidation, violence, or lawlessness. He reiterated that President Tinubu’s administration remains committed to upholding peace, democratic values, and national security.

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“President Tinubu’s commitment to the unity and progress of our great nation is unwavering. Having experienced both military rule and democratic governance, he would never undermine the very democracy he has fought to uphold,” he stated.

Highlighting the administration’s achievements within a short period, Dr. Matawalle confidently asserted that President Tinubu will secure a decisive victory in the 2027 presidential election.

He urged Nigerians to place their trust in Tinubu’s leadership and disregard the remarks of Amaechi and his associates, whom he described as “politically irrelevant and out of touch with the realities of national development.”

“Amaechi and others who believe they can manipulate our youth into chaos should rethink their actions. This government will not stand idly by while individuals attempt to disrupt the peace and stability of Nigeria,” he added.

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The Ministry of Defence, in collaboration with security agencies, will continue to monitor activities aimed at disrupting public peace and will ensure that anyone found culpable faces severe consequences, Matawalle concluded.

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