The trial of Akindele Akintoye, Platforms Capital Investment Partners Limited, and Duport Midstream Company Limited resumed in Abuja, where the Economic and Financial Crimes Commission presented its fourth witness. The defendants are accused of converting $35 million allocated for a Nigerian Content Development and Monitoring Board (NCDMB) project.
Isaac Yalah, a former director at the NCDMB, testified as the fourth prosecution witness. He said the defendants failed to submit reports confirming the completion of milestones one and two and that no official documentation showed how the funds were spent. The money was disbursed in two stages into bank accounts operated by Atlantic International Refinery and Petrochemical Limited. Yalah explained that a detailed report outlining the work done and services rendered was expected after the first disbursement before any further funds could be released.
The project, originally scheduled for completion within four months, remains unfinished. Yalah informed the court that the project has been abandoned in its current state. The NCDMB initiative was intended to promote local‑content development in Nigeria’s oil and gas sector, and the alleged conversion of funds has raised concerns about transparency and accountability in the management of public resources.
The case is being heard by Justice Ekerete Akpan of the Federal High Court in Abuja and has been adjourned to 3 December 2025 for cross‑examination. The trial’s outcome will have significant implications for the defendants and the NCDMB, affecting the management of public funds and the development of Nigeria’s oil and gas sector. The Economic and Financial Crimes Commission’s prosecution underscores the agency’s commitment to combating financial crimes and ensuring accountability in Nigeria’s public sector.
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