Finally, the Economic and Financial Crimes Commission (EFCC) has nabbed and detained Akintoye Akindele, the Managing Director of Atlantic International Refinery and Petrochemical Limited, over allegations of misappropriation and money laundering.
Akindele was apprehended on Tuesday in Abuja, accused of diverting public funds amounting to $35 million (approximately N60 billion). EFCC spokesperson Dele Oyewale confirmed the arrest, stating, “He is in our custody. He was arrested on Tuesday in Abuja.”
Akindele, who previously served as the Managing Director of Duport Midstream Company Limited and Chairman of Platform Capital, is already facing trial with the police over the alleged diversion of $5,636,397.01 and N73,543,763.25 belonging to Summit Oil International Ltd, as well as bribery charges involving N150 million.
According to reports, the Nigerian Content Development and Monitoring Board (NCDMB) disbursed $35 million to Akindele for the construction of a 2,000 barrel-per-day refinery, jetty, gas plant, power plant, data center, and tank farm at the Brass Free Trade Zone in Okpoama Community, Brass Local Government Area of Bayelsa State. Allegations suggest that after receiving the funds in December 2020, Akindele abandoned the projects with little to no progress made.
Sources indicated that Akindele had initially proposed the project to the NCDMB, which agreed to provide counterpart funding of $35 million. However, it is alleged that he redirected the funds received through Atlantic International Refinery and Petrochemical Limited to four of his other companies.