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Alleged fraud: Court admits oil magnate, Akintoye, to N500m bail
Justice Emeka Nwite, in a ruling, held that though he was not unmindful of the serious nature of the offence preferred against the defendant but he was minded to grant the bail in the interest of justice.
Justice Nwite, who ordered that the two sureties shall depose to affidavit of means, directed that the sureties must have landed property within the jurisdiction of the court and the documents deposited with the deputy registrar of the court.
He ordered that all his international passports be deposited with the registrar and shall not travel without the permission of the court.
He also ordered that Akintoye and the sureties shall deposit two recent passport photographs each and the residence of the sureties verified by the court registrar.
The judge, who ordered that both the prosecution and defence counsel shall supervise and interview the proposed sureties before Akintoye is released on bail, adjourned the matter until March 4 for trial.
The News Agency of Nigeria (NAN) reports that Justice Nwite had, on Dec. 31, 2024, fixed today for ruling after Esedo and Martha Babatunde, who appeared for the EFCC, argued their case for and against the bail application.
Esedo, while moving the application, had posed a question whether the defendant was entitled to bail.
The lawyer argued that issues of bail is a matter of discretion which is exercised judicially and judiciously by the court.
He said Akintoye is presumed to be innocent until proven guilty, adding that he had met all the requirements for granting bail.
Esedo assured that if granted bail, the defendant would not jump bail and was ready to stand his trial.
Besides, he said that the anti-graft agency had already concluded its investigation, having held him for 55 days.
Babatunde, who vehemently opposed the bail plea, argued that Sections 158 and 162 of the Administration of Criminal Justice Act (ACJA) did not impose on the court to grant bail.
The lawyer, who argued that a bail is not granted as a matter of must, said it is the duty of the applicant to place sufficient evidence before the court.
She argued that the evidence against Akintoye was weighty as it bordered on serious national economic sabotage and financial crime which is currently ravaging the country.
She said if admitted to bail, Akintoye would not attend trial, describing him as a flight risk.
NAN reports that Akintoye, in the four-count charge, was alleged to have diverted a sum of $26,,060, 406.00 US dollars meant to build a refinery in Brass, Bayelsa.
Akintoye, Platform Capital Investment Partners Limited and Duport Midstream Company Limited, where he is also the Managing Director and CEO, were sued as 1st to 3rd defendants respectively, by the anti-graft agency.
The EFCC, in the charge marked: FHC/ABJ/CR/641/V/2024 dated and filed on Dec. 19 by its lawyer, Ekele Iheanacho, SAN, alleged that Akintoye and Platform Capital Investment Partners Limited had between December, 2020 and February, 2021, indirectly retained 16 million dollars.
The amount, the EFCC said, was part of the funds dishonestly converted from the money paid by the Nigerian Content Development and Monitoring Board (NCDMB) Capacity Development Intervention Company Ltd to Atlantic International Refinery and Petrochemical Limited as investment.
The said sum of $16, 006, 000 is alleged to constitute proceed of unlawful activity.
The offence, EFCC said, is contrary to Section 15 (2) (d) of the Money Laundering Prohibition Act, 2011 (as amended) by (Act No. 1 of 20!2) and punishable under Section [5(3) of the same Act, among other counts.(NAN)
The Association of Scavengers, Scrap Dealers, and Recyclers, Abuja, has publicly dissociated itself from a Federal High Court suit filed by unregistered scavengers and beggars against the Federal Capital Territory (FCT) Minister, Nyesom Wike.
In a statement issued in Abuja, the association’s chairman, Mallam Muntari Mohammed, clarified that the group is a duly registered body, with members holding valid identity cards and engaging in legitimate waste management, scrap trading, and recycling businesses.
He stressed that the association has always complied with the FCT Administration’s rules and regulations, maintaining a clean record.
Muntari noted that the association had formally written to the Department of State Services (DSS) and other relevant agencies to affirm its commitment to safeguarding critical infrastructure and adhering to stipulated guidelines.
He distanced the group from unregistered scavengers, whom he accused of tarnishing the reputation of legitimate operators through theft and other illicit activities.
The chairman addressed the FCT Minister’s recent ban on scavenging, which stemmed from misunderstandings about the distinction between honest scavengers and rogue elements.
“We have never confronted the FCT authorities and will never do so,” Muntari said, emphatically dissociating the association from the court case against Wike.
The Vatican has confirmed that only one round of voting will take place this Wednesday afternoon as the conclave to elect the next pope officially gets underway.
Cardinals from around the world gathered earlier Wednesday in the Sistine Chapel, where they took a sacred oath of secrecy before the chapel doors were ceremonially closed with the Latin phrase “extra omnes,” meaning “everyone out.” The papal master of ceremonies then declared the start of the conclave, invoking a centuries-old tradition whose name comes from the Latin cum clave, meaning “locked with key.”
Wednesday’s solitary ballot marked the opening step in the process to choose the new leader of the world’s 1.3 billion Catholics. Should the vote prove inconclusive requiring a two-thirds majority to elect a new pope, cardinals will resume the process on Thursday, casting up to four ballots daily until consensus is reached.
Each cardinal votes by writing “Eligo in Summum Pontificem” (“I elect as Supreme Pontiff”) on a paper ballot, followed by the name of their chosen candidate. In a quiet and orderly procession, they approach the silver and gilded urn in order of seniority to place their ballots.
As the final vote is cast, the tension rises in St. Peter’s Square, where the faithful and millions watching around the globe await the first sign of smoke from the Sistine Chapel’s chimney. Black smoke will indicate that no decision has been made; white smoke will proclaim that a new pope has been elected.
The last two conclaves, in 2005 and 2013, ended on the second day, with Pope Benedict XVI and Pope Francis elected after a series of swift ballots, respectively.
As the doors remain closed and Vatican cameras withdraw, the world waits in hushed anticipation for the next chapter in the history of the Catholic Church to be written.
Governor Hyacinth Alia will not honour the House of Representatives Committee invitation scheduled for Thursday, May 8.
The governor’s Chief Press Secretary, Mr Tersoo Kula, confirmed this to journalists on Wednesday in Makurdi.
The House had summoned the governors of Benue and Zamfara, alongside their Assembly leadership.
Kula stated that the invitation is unconstitutional and the governor will not comply with it.
He explained that Alia has filed a case at the Supreme Court challenging the lawmakers’ invitation.
“Yesterday, the Benue Assembly passed a resolution rejecting the Reps Committee invitation.
“They believe the invitation is based on ignorance and have decided not to attend. They will also challenge it in court,” he said.
Kula added that the governor, independently, has approached the Supreme Court to challenge the invitation’s legality.
He said: “Since the matter is in court, I will not speak further on it.”
Kula also claimed that the civil society group behind the petition is faceless and unregistered.
According to him, the address on the group’s letterhead is fake and lacks credibility.
He said there is a coordinated campaign of misinformation and sponsored protests aimed at destabilising Benue.
In recent weeks, he noted, there have been protests in Abuja allegedly representing Benue people’s concerns.
“These protests aim to provoke a state of emergency in Benue by portraying it in a negative light,” he said.
He claimed the organisers seek to undermine progress and return to a failed political order.
“Their ultimate goal is to create chaos for selfish political gain,” Kula added.
He accused the protest sponsors of trying to remove the governor through disruptive means.
“They will not succeed. Benue people stand firmly with their governor,” he said.
He assured the public that Benue remains peaceful and the government is functioning effectively.
“Governor Alia is committed to fulfilling his mandate and addressing the state’s challenges,” he said. (NAN)