The Economic and Financial Crimes Commission (EFCC) has launched the trial of Nigerian oil executive Dr. Akintoye Akindele. He is accused of diverting $35 million meant for major development projects in Bayelsa State.
The EFCC alleges that the money was paid by the Nigerian Content Development and Monitoring Board (NCDMB) to Atlantic International Refinery and Petrochemical Limited. The funds were intended to support projects like a modular refinery and jetty in Brass, Bayelsa.
Dr. Akindele is on trial with two companies—Platform Capital Investment Partners Ltd and Duport Midstream Company Ltd. The case involves four charges, all related to retaining and using money linked to illegal activity.
According to the EFCC, Akindele and Platform Capital kept $16 million between December 2020 and February 2021. They also allegedly spent another $9 million from the same funds. Akindele and Duport are separately accused of holding $784,681 and $220,000, respectively.
He pleaded not guilty and was granted bail to prepare for trial.
During the court session, the EFCC presented its first witness—Hon. Israel Sunny Goli. He said he had written to the EFCC in 2023, raising concerns over how funds were handled under former NCDMB secretary Simbi Wabote.
Goli told the court that “the secretary told us it was for the project and it has been paid in full.” However, after two years, he said only basic site clearing and a non-functional jetty were visible. He also claimed abandoned staff caravans had become infested with reptiles.
During cross-examination, Goli admitted he didn’t know whether the funds were an equity investment or for the entire project. He also confirmed he had no knowledge of any EFCC probe directly involving NCDMB.
The trial was adjourned to July 10 and 15 so the EFCC can present more witnesses.
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