Prominent Businessman, Akindele Akintoye Arraigned For Alleged $35 Million Contract Fraud

Date: 25-12-2024 12:08 pm (1 month ago) | Author: Mister Jay Wonder
- at 25-12-2024 12:08 PM (1 month ago)
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The Economic and Financial Crimes Commission (EFCC) has arraigned Akindele Akintoye, a prominent businessman, before Justice Emeka Nwite of the Federal High Court in Maitama, Abuja, over charges of money laundering and contract fraud.

Akintoye, the Managing Director of Atlantic International Refinery and Petrochemical Limited, is accused of misappropriating $35 million allocated by the Nigeria Content Development and Monitoring Board (NCDMB). The funds were intended for the construction of a 2000-barrel-per-day refinery, jetty, gas plant, data center, and tank farm at the Brass Free Trade Zone in Bayelsa State’s Okpoama community.

According to the EFCC, Akintoye funneled the substantial sum into personal ventures and bureau de change operations through his company’s bank account. The alleged actions have drawn widespread attention due to the scale of the project and the significant amount of public funds involved.

The defendant is facing a four-count charge, officially filed on November 19, 2024. During the proceedings, Akintoye pleaded “not guilty” to all charges. Justice Nwite ordered his remand at the Kuje Correctional Centre pending further deliberations.

The court has scheduled a hearing on Akintoye’s bail application for December 31, 2024, marking the next step in what promises to be a closely watched legal battle. This case underscores the EFCC’s commitment to tackling corruption and holding individuals accountable for financial misconduct.


Posted: at 25-12-2024 12:08 PM (1 month ago) | Addicted Hero
- gogoman at 25-12-2024 01:37 PM (1 month ago)
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 Roll Eyes Roll Eyes Roll Eyes
Posted: at 25-12-2024 01:37 PM (1 month ago) | Grande Master
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- nikiniki at 26-12-2024 12:57 AM (1 month ago)
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How is he a ''prominent" businessman when all he does is steal from the people? Everything is wrong with the way Nigerians celebrate criminals
Posted: at 26-12-2024 12:57 AM (1 month ago) | Hero
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fire TRENDING GISTS fire

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