Connect with us

Breaking News

$35m NCDMB project: EFCC re-arraigns Akindele Akintoye, witness transferred $6.9m to defendant in cash

Published

on

Economic and Financial Crimes Commission, (EFCC), on Monday, 1 December 2025, re-arraigned Akindele Akintoye before Justice Ekerete Akpan of the Federal High Court sitting in Abuja on an amended six count-charge bordering on dishonesty and conversion of $35m Nigerian Content Development and Monitoring Project, NCDMB Project.....TAP TO CONTINUE READING

The two other defendants are Platforms Capital Investment Partners Limited and Duport Midstream Company Limited.

Prosecution counsel, E.E Iheanacho, SAN, informed the court that the prosecution had an amended charge dated November 27, 2025 and filed the same date. “We humbly seek that the charge be read to the defendants to take his plea.”

Counsel to the first and second defendants, E.O Adekwu, SAN, did not object to the application, while counsel to the third defendant, B.J Akomolafe also did not object.

One of the count reads: “That you Akindele Akintoye and Platform Capital investment Partners Limited between December, 2020 and February, 2021 in Lagos 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 Capacity Development Intervention Company Limited to Atlantic International Refinery and Petrochemical Limited as investment when you knew that the said sum of $16,006000 constituted proceeds of unlawful activity and you thereby committed 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.”

Another count reads: “that you Akindele Akintoye and Platform Capital Investment Partners Limited between December 2020 and January 2021 in Lagos within the jurisdiction of this Honourable Court indirectly used the aggregate sum of $9,048,725(Nine Million, Forty Eight Thousand, Seven Hundred and Twenty Five United States Dollars) 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 when you knew that the said sum of $9,048,725 constituted proceeds of unlawful activity and you thereby committed an offence contrary to Section 15(20(d) of the Money Laundering Prohibition Act 2011 as amended by the (Act No 1 of 2012) and punishable under section 15(3) of the same Act.”

The defendants pleaded “not guilty” when they were read to them.

The prosecution counsel called the third witness, Isah Yusuf, who informed the court that he was into sourcing dollars for people and get commission adding that he and one Adeshina used to give the first defendant dollars in cash “but I only saw him physically for the first time in EFCC office during investigation.

“Sometimes in 2021, PW2, a Zenith bank staff, Mr. Adeshina called me that he had a customer who had dollars in his account and wanted to swap with physical cash, so I went to meet Mrs. Bunmi, the owner of Oxygen Oil and Gas and Kensley Logistics Ltd and I met another person. Mr. Yunusa who has four corporate accounts: Rochdale Logistics Ltd, Honda Manufacturing, Porkfirst Ltd and Global Factual. They transferred the US Dollar to these company’s accounts and they were paid cash in dollars.” he said.

“I got the dollar in cash from Oxygen Oil and Gas and Kensly Logistics Limited and the other four accounts they gave him cash.”

When asked by the prosecution counsel to tell the court where the location, place of delivery and how many times the delivery were made, the witness said “Victoria island,”

“I used to deliver these cash payments to the office of the defendant on several occasions which I have stated in my statement in the EFCC.

The witness, through the prosecution, tendered the statement of the witness written at the EFCC, and they were marked by the court as L1, L2, and L3.

The witness further informed the court that the total amount of dollars paid to the defendant amounted to Six million, Nine Hundred Dollars in cash.

“I gave it to his staff. The first defendant never came down to meet us.

Justice Akpan thereafter adjourned the matter to December 2, 2025 for continuation of trial.

Read The Full Article Here Now

 
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Breaking News

BREAKING NEWS: Nigerian National Assembly Finally Clears Femi Fani-Kayode As Ambassador

Published

on

The Senate Committee on Foreign Affairs has cleared Ambassador-designate, former Minister of Aviation, Femi Fani-Kayode.....TAP TO CONTINUE READING

Naija News reports that Fani-Kayode was cleared after his appearance before the Senate.

Fani-Kayode, who is also a former Minister of culture, was given the ‘bow-and-go’ privilege.

It was gathered that during the screening, after a brief introductions, former ministers, ambassadors and lawmakers were asked to “take a bow and leave,” in line with Senate tradition.

Senate Leader Opeyemi Bamidele defended the continued use of the “bow and go” procedure for certain nominees, saying it is reserved for individuals with established and verifiable records of public service.

Speaking during the screening of non-career ambassadorial nominees, Bamidele explained that anyone who has previously served in the National Assembly automatically qualifies for the privilege,

He noted that their legislative history and public profile are already well known to lawmakers.

Recall that President Tinubu submitted a 32-member list of ambassadorial nominees to the Senate on November 29 for confirmation.

The list includes 15 career diplomats and 17 non-career appointees, who are expected to be posted to countries where Nigeria maintains diplomatic relations and to international organisations such as the United Nations.

The nominations attracted attention due to the inclusion of high-profile political figures. Notable names on the list include former INEC Chairman Mahmood Yakubu, former governors Okezie Ikpeazu and Ifeanyi Ugwuanyi, former presidential aide Reno Omokri, and Fani-Kayode.

Women also feature in the list, with four career diplomats and six non-career nominees.

Read The Full Article Here Now

 
Continue Reading

Breaking News

BREAKING NEWS: Finally United States Surveillance Aircraft Monitors JNIM Smuggling Route On Nigeria–Benin Border

Published

on

A United States Air Force intelligence, surveillance, and reconnaissance (ISR) aircraft is currently conducting operations over Babana, a strategic border crossing between Nigeria and the Benin Republic known for militant smuggling activity. Babana has long served as a key transit route for armed groups, particularly Jama’at Nasr al-Islam wal Muslimin (JNIM), who exploit the porous border to smuggle weapons and supplies. Security expert, Brant Philip, confirmed the ongoing surveillance in a post on (formerly Twitter) on....TAP TO CONTINUE READING

Read The Full Article Here Now

 
Continue Reading

Breaking News

BREAKING: Economic and Financial Crimes Commission EFCC, Compiling Charges, To Arraign Malami In Court

Published

on

The Economic and Financial Crimes Commission (EFCC) has reportedly begun compiling charges against the former Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami (SAN), over alleged misappropriation of funds.....TAP TO CONTINUE READING

Malami, who has been in the anti-graft agency’s custody since Monday, has been granted administrative bail but remains detained due to ongoing verification of documents submitted to meet his bail conditions.

A source within the EFCC confirmed the development to Daily Trust, stressing that the commission is concluding its investigation and intends to arraign the former AGF in court soon.

“He has been granted an administrative bail but he’s with us because he’s yet to perfect his bail conditions. The documents he submitted for bail are still being scrutinised. Once that is done, he will go,” the source explained.

The source added, “Secondly, he would be arraigned in court as soon as we conclude our investigation. Charges are already being compiled against him. We’re not bittered. This is not persecution, we’re just doing our job.”

The current probe is reportedly revisiting a series of high-profile financial transactions that trailed Malami’s tenure, including those linked to the Abacha loot recovery and other controversial payments.

In the midst of the ongoing detention and compilation of charges, Malami issued a statement strongly defending his innocence and denying any involvement in terrorism financing or other crimes.

Malami stated “My attention has been drawn to a recent publication in which my name was mentioned in connection with allegations of terrorism financing and so-called ‘links’ to persons described as terror suspects or alleged financiers.

“I consider it necessary, in the interest of truth, justice and public record, to make the following clarifications.

“First, I state clearly and unequivocally that I have never at any time been accused, invited, interrogated, investigated or charged by any security, law-enforcement, regulatory or intelligence agency—within or outside Nigeria—in respect of terrorism financing or any related offence.”

He added, “Secondly, even the retired military officer cited as the principal source in the said publication categorically admitted that he was not accusing me, or other named individuals, of financing terrorism.

“His own account, as reported, was limited to a vague assertion that certain suspects allegedly had some form of ‘business’ or ‘institutional’ relationship with various persons.

“That important clarification was, unfortunately, overshadowed by a headline and framing capable of misleading well-meaning members of the public into drawing inaccurate and damaging conclusions which was unfortunately politically manipulated by my political opponents to create mischievous insinuations implying my involvement in terrorism financing.

“Terrorism financing is a grave crime with devastating consequences for national security and human life. Any attempt—whether by direct allegation or indirect innuendo—to associate an individual with such an offence must be grounded in verifiable facts, due process and lawful findings, not in conjecture, speculation, or guilt by association.

“To suggest that lawful professional or institutional engagements can, without more, be read as evidence of terrorism financing is both mischievous and unjust.”

Read The Full Article Here Now

 
Continue Reading

Trending

All Right Reserved | Copyright © 2025 3ppleloaded News | Powered by 3ppleloaded.ng |