$35m NCDMB Project: EFCC Re-arraigns Akindele Akintoye, Witness transferred $6.9m to Defendant in Cash

Akindele

By JUMOKE SANNI

The Economic and Financial Crimes Commission, EFCC, on Monday, 1 December 2025, re-arraigned Akindele Akintoye before Justice Ekerete Akpan of the Federal High Court sitting in Abuja on an amended six count-charge bordering on dishonesty and conversion of $35m Nigerian Content Development and Monitoring Project, NCDMB Project.

The two other defendants are Platforms Capital Investment Partners Limited and Duport Midstream Company Limited.

Prosecution counsel, E.E Iheanacho, SAN, informed the court that the prosecution had an amended charge dated November 27, 2025 and filed the same date. “We humbly seek that the charge be read to the defendants to take his plea.”

Counsel to the first and second defendants, E.O Adekwu, SAN, did not object to the application, while counsel to the third defendant, B.J Akomolafe also did not object.

One of the count reads: “That you Akindele Akintoye and Platform Capital investment Partners Limited between December, 2020 and February, 2021 in Lagos within the jurisdiction of this Honourable Court indirectly retained the sum of $16,006,000(Sixteen million, Six thousand United States Dollars) being part of the funds dishonestly converted from the money paid by the NCDMB Capacity Development Intervention Company Limited to Atlantic International Refinery and Petrochemical Limited as investment when you knew that the said sum of $16,006000 constituted proceeds of unlawful activity and you thereby committed an offence contrary to Section 15(2)(d) of the Money Laundering Prohibition Act, 2011 as amended by (Act No.1 of 2012) and punishable under Section 15(3) of the same Act.”

Another count reads: “that you Akindele Akintoye and Platform Capital Investment Partners Limited between December 2020 and January 2021 in Lagos within the jurisdiction of this Honourable Court indirectly used the aggregate sum of $9,048,725(Nine Million, Forty Eight Thousand, Seven Hundred and Twenty Five United States Dollars) being part of the funds dishonestly converted from the money paid by the NCDMB Capacity Development Intervention Company Ltd to Atlantic International Refinery and Petrochemical Limited as investment when you knew that the said sum of $9,048,725 constituted proceeds of unlawful activity and you thereby committed an offence contrary to Section 15(20(d) of the Money Laundering Prohibition Act 2011 as amended by the (Act No 1 of 2012) and punishable under section 15(3) of the same Act.”