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The Economic and Financial Crimes Commission (EFCC) has commenced the prosecution of an oil magnate, Dr Akintoye Akindele, accused of involvement in the conversion of the sum of $35 million belonging to the Nigeria Content Development and Monitoring Board (NCDMB).
The said sum was said to have been converted from the money paid by the NCDMB Capacity Development Intervention Company Ltd to Atlantic International Refinery and Petrochemical Limited as investment in the establishment of a modular refinery, a jetty, among others, in Brass, Bayelsa State.
Akindele was arraigned alongside two others before a Federal High Court in Abuja on a four-count charge bordering on retaining and using several amounts of the money despite having knowledge that they emanated from an unlawful activity.
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The two other defendants in the suit marked: FHC/ ABJ/CR/641/2024, are Platform Capital Investment Partners Ltd and Duport Midstream Company Ltd.
Akindele, however, pleaded not guilty and was admitted to bail.
At Tuesday’s proceedings, the anti-graft agency called its first prosecution witness, Israel Sunny-Goli, a former member of the Bayelsa State House of Assembly.
The witness had last year petitioned the EFCC over the disbursement of funds for the Brass Fertiliser and Petrochemical Company Ltd, Atlantic International Refinery and Petrochemical Limited and the Brass Petroleum Product Terminal Limited under the immediate Executive Secretary of the NCDMB, Kiyesi Simbi Wabote.
Led in evidence by prosecution counsel, R. U. Adagba, the witness, told the court that his petition to the EFCC was predicated on the grounds that nothing tangible was done at the project site 24 months after funds were disbursed to the relevant agencies.
He said the NCDMB secretary had informed them that the sum of $30 million for the project had been paid in full, but unfortunately nothing tangible was done at the project site.
During cross examination by Akindele ‘s lawyer, Chief A. O. Okeaya-Inneh (SAN), the witness stated that beyond the clearing of the project site and a non-functional jetty, nothing was done by those who collected the money.
He added that the caravans that Atlantic Ltd used to accommodate their staff have been overtaken by reptiles.
While disagreeing with Akindele that Brass was a difficult environment, he stated that there was no security challenge in the area in the 24 months.
Akindele and Platform Capital Investment Partners Ltd were alleged to have between December 2020 and February 2021, “indirectly retained the sum of $16, 006, 000 being part of the funds dishonestly converted from the money paid by the NCDMB Capacity Development Intervention Company Ltd to Atlantic International Refinery and Petrochemical Limited as investment, which is a breach of the money laundering law.”
Justice Ekerete Akpan adjourned the case until July 10 and 15, for continuation of trial.
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