The Inspector General of Police (IGP) has requested the transfer of the trial of Akintoye Akindele, the Managing Director and Chief Executive Officer (MD/CEO) of Duport Midstream Company Limited, to the Lagos division of the Federal High Court. Akindele and his company are facing a four-count criminal charge for allegedly diverting funds belonging to Summit Oil International Ltd.
The defendants are accused of converting $5,636,397.01 and N73,543,763.25, received from Shell, for personal use between 2017 and 2021. Despite pleading not guilty, Akindele was granted bail in the sum of N750 million. However, he was remanded at the Kuje prison in Abuja pending confirmation of his bail.
During the last court session, the police counsel requested the trial be moved to Lagos citing that the evidence and witnesses are located there. On the other hand, the defendants’ counsel argued that the alleged offences occurred in Benin, not Lagos, and they are willing to have the trial in Abuja.
Justice Omotosho has scheduled a ruling for April 29 after considering both sides. If Akindele’s bail is confirmed, he will be released from custody. The charges against him and his company include conspiracy to commit felony, stealing by conversion, and dishonestly converting funds received from Shell.
The case has sparked a legal battle over jurisdiction and the location of the trial. Stay tuned for updates on this high-profile financial crime trial.
