News
Court sends oil magnate to prison for diverting $26m refinery fund
A Federal High Court sitting in Abuja has remanded the Founder and Chairman of Platform Capital Investment Partners Limited, Akindele Akintoye, in Kuje Correctional Centre.
Justice Emeka Nwite gave the order shortly after Akintoye was arraigned by the Economic and Financial Crimes Commission (EFCC) on allegations bordering on the diversion of $26,060,406 meant to build a refinery in Brass, Bayelsa State, on Tuesday, December 24, 2024.
Justice Nwite, who adjourned the matter until December 31, directed Akintoye to remain in the correctional centre pending the hearing and determination of his bail application.
The EFCC had sued Akintoye, Platform Capital Investment Partners Limited, and Duport Midstream Company Limited, where he is also the Managing Director and CEO, as first to third defendants, respectively.
The anti-graft agency, in the charge marked: FHC/ABJ/CR/641/V/2024 dated and filed on December 19 by its lawyer, Ekele Iheanacho (SAN), preferred four counts against the trio.
Akintoye and Platform Capital Investment Partners Limited were alleged to have, between December 2020 and February 2021, indirectly retained $16 million.
The amount, the EFCC said, was part of the funds dishonestly converted from the money paid by the Nigerian Content Development and Monitoring Board (NCDMB) Capacity Development Intervention Company Limited to Atlantic International Refinery and Petrochemical Limited as investment.
The said sum of $16,006, 000 is alleged to constitute proceed of unlawful activity.
The offence, EFCC said, is contrary to Section 15 (2) (d) of the Money Laundering Prohibition Act, 2011 (as amended) by (Act No. 1 of 20!2) and punishable under Section [5(3) of the same Act.
In count two, Akintoye and Platform Capital were alleged to have between December 2020 and January 2021 indirectly used the aggregate sum of $9,048,725 being part of the funds dishonestly converted from the money paid by the NCDMB Capacity Development Intervention Company Limited to Atlantic International Refinery and Petrochemical Limited as investment.
The said sum of $9,048,725 was said to constitute proceeds of unlawful activity and the offence was 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.
In count three, Akintoye and Duport Midstream Company Limited were alleged to have, sometime in March 2021, retained the sum of $785,681 being part of the funds dishonestly converted from the money paid by the NCDMB Capacity Development Intervention Company Limited to Atlantic International Refinery and Petrochemicals Limited as investment.
The sum was said to constitute the proceed of unlawful activity.
The offence, the EFCC said, is 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, in count four, accused Akintoye and Duport Midstream of allegedly retaining the sum of $220,000 being part of the funds dishonestly converted from the money paid by the NCDMB Capacity Development Intervention Company Limited to Atlantic International Refinery and Petrochemical Limited as investment.
The money was said to be proceed of unlawful activity and the offence is 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.
After the charge was read to Akintoye, he and on behalf of the companies, pleaded not guilty to all the counts.
The EFCC’s counsel, Iheanacho, prayed the court for a trial date and urged the court to remand Akintoye in a correctional centre after the non-guilty plea by the defendants.
The defence lawyer, Emmanuel Esedo, told the court that a bail application on Akintoye’s behalf had been filed.
The lawyer, who said the application was filed on December 23, sought the leave of the court to move the motion.
Iheanacho, however, opposed the submission.
After a lengthy argument by the prosecution and the defence lawyers, Justice Nwite agreed with Iheanacho’s submission.
The judge subsequently adjourned the matter until December 31 for the hearing of the bail application.
He ordered Akintoye to be remanded in Kuje Correctional Centre pending the hearing and determination of the application.
The Federal High Court sitting in Lagos, presided over by Justice Chukwujekwu Aneke, has granted music producer and former manager of gospel artist Mercy Chinwo, Ezekiel Onyedikachi (also known as EeZeeTee), a N20 million bail in connection with a fresh $255,000 alleged forex transaction fraud brought against him by the Economic and Financial Crimes Commission (EFCC).
Justice Aneke, in a brief ruling on Friday, set the bail condition, requiring one surety who must reside in Lagos and own property worth the bail sum.
The judge, who had previously released EeZeeTee to his lawyer, Ojukwu Chikaosolu, gave him 72 hours to meet the bail condition.
The EFCC had initially filed a 14-count charge against EeZeeTee for alleged fraudulent conversion but later amended the charge to seven counts, accusing him of engaging in foreign exchange transactions without a license.
Prosecuting counsel Bilikisu Buhari-Bala told the court that in June 2023, EeZeeTee, without authorization from the Central Bank of Nigeria (CBN), negotiated a foreign exchange transaction worth $52,895 with one Mr. Oladotun Olaobaju Mureke.
This, she argued, violated Sections 5 and 29(1)(c) of the Foreign Exchange (Monitoring and Miscellaneous Provisions) Act, Cap F34, Laws of the Federation of Nigeria, 2004, and is punishable under Section 29(2) of the same Act.
EeZeeTee pleaded not guilty to the charges. The case has been adjourned to June 20, 2025, for trial.
Several areas in the Federal Capital Territory, Abuja, have been thrown into darkness for days.
The Abuja Electricity Distribution Company, AEDC, confirmed this in three separate outage statements released on its X handle on Thursday and Friday.
The disco blamed the blackout on technical fault affecting the feeders serving the concerned locations.
“We regret to inform you that the ongoing power outage is due to a technical fault affecting the feeders serving these locations,” the AEDC stated in a notice on Friday.
Several areas and businesses affected include Jabi District, Lifecamp, Kado District, Aire Gas, Total Marble, and others along Kaduna Road.
Also, Idu, Citec Mbora, Karmo, EFAB Global Estate, Karmo, Woodfield Estate, Zulu Community and all its environs are experiencing outages.
Also, Sokale Garden, Dutse Makaranta, Dutse Bokuma, Ushafa, Pegi, Gigo, Defence College Estate, Kogo, Zuma, Veritas University, Jamb Headquarters, Law School, Bwari and environs are experiencing similar power outages.
Meanwhile, for Bwari and its environs, the disco said the epileptic power supply was particularly due to a technical fault in the 33 kV Bwari Feeder serving the areas.
“The ongoing power outage is due to a technical fault on the 33kV Bwari Feeder, which is affecting supply to these areas.
“The TCN technical team is working tirelessly to restore power as quickly as possible,” the Abuja disco disclosed.
Meanwhile, residents in the affected areas have continued to lament the impact of the outage.
“We have not had power supply for over a week now. The situation is really impacting households and businesses in Jabu. I now spend more money to buy fuel. The AEDC and TCN need to fix this situation,” he stated.
By Kayode Sanni-Arewa
The National Hajj Commission of Nigeria (NAHCON) says it closed the registration of pilgrims for the 2025 Hajj on May 2 to enable it to concentrate on the airlift of pilgrims.
The commission said that any Hajj fare deposit received after May 2 would be duly refunded.
Hajia Fatima Usara, Assistant Director, Information and Publication Division, NAHCON, said this in a statement on Wednesday in Abuja.
According to Usara, an extension was earlier made possible through the intervention of NAHCON Chairman Prof. Abdullahi Saleh, despite closure of contract by March 25.
“Stoppage of further registration became necessary in order for the Commission to concentrate on airlifting pilgrims, with sufficient resources to ensure their comfort.
“Any Hajj fare deposit received after May 2 will be duly refunded.
“Meanwhile, movement to Saudi Arabia for the Hajj commences from May 9,” she said.
She said that the inaugural flight for this year’s Hajj was scheduled to take off from Owerri, with Gov. Hope Uzodinma of Imo as host.
The NAHCON spokesperson said that 315 pilgrims from Imo, Abia and Bayelsa were scheduled to board the Air Peace airline for the trip.
“Vice-President Kashim Shettima is expected to grace the occasion as Special Guest of Honour.
“Already, the NAHCON advance team arrived in Owerri earlier on May 7 to monitor preparations for the inaugural flight,” she said.
She said that registration for the 2025 Hajj ended with a record of 40,671 pilgrims.
“Four flights are scheduled to take off simultaneously on May 9 for the pilgrimage.
“The flights are expected as follows: Max Air from Bauchi, two Flynas flights, one from Kebbi and the other from Osun through the Lagos departure centre.
“There is a fourth flight from Niger, totalling 2,528 pilgrims to arrive in Madina on the first day.
Further details will be shared as the activities unfold,” she said.
(NAN)
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