Court Remands Oil Magnate, Akintoye Akindele, Over $5.6 Million Alleged Fraud In Kuje Prison

Court Remands Oil Magnate, Akintoye Akindele, Over $5.6 Million Alleged Fraud In Kuje Prison

In a recent development, the Federal High Court in Abuja has ordered the remand of Dr. Akintoye Akindele, the Managing Director and Chief Executive Officer of Duport Midstream Company Limited, at the Kuje prison in Abuja. This decision stems from allegations of fraud amounting to $5.6 million leveled against him…..READ ALSO Court Remands 13 Suspected Killers Of Kwara Monarch As Case Unfolds

Dr. Akindele, who was granted bail earlier this month, will be held in custody until March 20 pending the verification of his bail conditions. Notably, he had been granted bail on March 1 with a bail sum of N750 million and two sureties of equal value. However, the trial is scheduled to commence on March 15, and one of the conditions requires the sureties to possess landed property within the jurisdiction of the court.

Despite the bail granted, the prosecution attorney, Simon Lough, SAN, made an oral application during the trial to transfer the case from the Federal High Court in Abuja to the Federal High Court in Lagos. Lough argued that the proper jurisdiction for the trial is the Lagos division, as it is where the alleged offense took place and where all the witnesses and evidence are located.

However, the court refused to entertain the oral application, emphasizing that any transfer request must be submitted in writing with affidavit evidence. Justice James Omotosho, who presided over the case, instructed the prosecution to follow the proper procedure for transfer.

During the trial proceedings, it was observed that the bail conditions set for Dr. Akindele were not met before the specified deadline. While his lawyers argued for an extension, citing challenges in fulfilling the conditions, the judge noted that the defendant failed to meet the requirements within the stipulated timeframe.

Consequently, Justice Omotosho adjourned the case till March 20 to consider the bail perfection and the application for transfer to the Lagos division of the Federal High Court. In the interim, Dr. Akindele will remain remanded at the Kuje Correctional Center in Abuja.

The charges against Dr. Akindele, brought by the office of the Inspector General of Police, include allegations of diverting funds belonging to Summit Oil International Ltd. between 2017 and 2021. The case, marked FHC/ABJ/CR/570/2023, implicates both Dr. Akindele and his company, Duport Midstream Company Limited.

As the legal proceedings unfold, the case highlights the complexities and intricacies involved in matters of alleged financial misconduct, underscoring the importance of due process and adherence to legal protocols.

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