Alex Enuma in Abuja
The Managing Director and Chief Executive Officer (MD/CEO) of Duport Midstream Company Limited, Mr. Akintoye Akindele, was yesterday arraigned at the Federal High Court in Abuja on charges of $5.6 million fraud.
In the four counts filed against him by the Inspector General of Police (IG), the defendant is alleged to have misappropriated the sum of $5,636,397.01 and N73,543,763.25 belonging to Summit Oil International Limited.
Akindele and his company, the second defendant in the suit marked FHC/ABJ/CR/570/2023, allegedly committed this act between 2017 and 2021, during which time they received amounts from Shell. He is said to have converted it for personal use. .
However, he pleaded not guilty to the four charges and his lawyer, Chief James Onoja, subsequently amended his bail application.
Prosecution lawyer Simon Ruff did not object to granting the application, but the judge imposed strict bail conditions on the defendant.
In his judgment, the trial judge, Justice James Omotosho, said the court accepted that the defendant had argued that the Federal Capital Territory (FCT) High Court had already granted Mr Akindele bail of NOK 500,000. He said there was no evidence. Its effect.
The judge then granted bail in the amount of NOK 750 million, with two sureties of the same amount. According to the judgment, the guarantor must own land within the jurisdiction of the court. Additionally, sureties who must swear an affidavit of means must also deposit account statements with the registrar of the court.
However, Justice Akira Omoto ruled that since the defendant appeared in court from his home, the court will grant him bail at the FCT High Court until March 8.
However, if the new bail conditions are not met, he will be remanded.
Meanwhile, the court has been adjourned until March 15th for trial.
Counting one of the bails, it said: “You are responsible for the period between October 2017 and November 2021, when you are a member of Duport Midstream Company Ltd., Ikoyi-Lagos D2 Mambilla Close Osborne Estate and Alexander Avenue Ikoyikoi. – Akintoye Akindele, a 49-year-old male, MD/CEO of Duport Midstream Company Limited, 42, Lagos. For conspiring to commit a felonious crime in Lagos State, within the jurisdiction of this honorable court, for stealing in the sum of US$5,636,397,010,000 and the sum of N73,543,763.25. , has committed a crime that violates Article 516 of the Criminal Law. Code of Laws, Cap C38 Act of the Federation of Nigeria 2004. ”