Edit Content
Tuesday, Nov 5, 2024
Edit Content
Reading: Court Relocates Trial of Oil Magnate Akindele in Alleged $5.6m Fraud to Lagos from Abuja
- Advertisement -

Court Relocates Trial of Oil Magnate Akindele in Alleged $5.6m Fraud to Lagos from Abuja

David Akinyemi
David Akinyemi 18 Views

Justice James Kolawole Omotosho of the Federal High Court in Abuja has ordered the trial of oil magnate Akintoye Akindele in an alleged $5.6M fraud to be relocated from Abuja to the Lagos division of the court.

The transfer was requested by the Inspector General of Police, Kayode Olaolu Egbetokun, and was granted by Justice Omotosho based on the argument that Lagos is the appropriate venue for the trial.

Akindele, the Managing Director and Chief Executive Officer of Duport Midstream Company Limited, is facing a four-count criminal charge related to the diversion of funds belonging to Summit Oil International Ltd.

Despite the defendants’ plea of not guilty and Akindele being granted bail, the trial is set to move to Lagos as per the court’s ruling.

The proof of evidence is located in Lagos, and apart from two police investigators, all the prosecution witnesses are also based in Lagos, according to him.

Read Also: Appeal Court Reverses Lokoja Court Order in Yahaya Bello vs EFCC Case, Rules Against Former Kogi Governor

He stated that transferring the case to Lagos would improve administrative efficiency and provide better access to the witnesses, thereby ensuring justice is served.

Consequently, Justice Omotosho made an order to transfer the case to the Federal High Court in Ikoyi, Lagos for trial, affirming that justice would be achieved through this move.

In the meantime, the defendant was granted bail and allowed to continue enjoying it until the trial begins at the Lagos division.

- Advertisement -
- Advertisement -

Count one of the charges alleges that between October 2017 and November 2021 in Lagos State, Akindele conspired with others to commit the felony of stealing by converting the sum of USD 5,636,397.01 million and N73,543,763.25.

This alleged offense is in violation of Section 516 of the Criminal Code Law, Cap C38 Laws of the Federation of Nigeria 2004.

Count two specifically accuses Akintoye Akindele, the 49-year-old MD/CEO of Duport Midstream Company Limited, and Duport Midstream Company Limited itself, of stealing by dishonest conversion the sum of $5.636,397.01 million USD and N73,543,763.25, which belonged to Summit Oil International Limited.

The offense described in count two is contrary to Section 387 and punishable under Section 390 of the Criminal Code Law, Cap C38 Laws of the Federation of Nigeria, 2004.

    Share This Article
    - Advertisement -