The police have charged the Managing Director/Chief Executive Officer of Duport Midstream Company Limited (DMCL), Akintoye Akindele, and the company with fraud at the Federal High Court in Abuja.
In the four-count charge, they were accused of theft, acting in concert to steal, conspiracy to commit a felony and dishonest conversion contrary to sections 516, 387, 385 and 388 and punishable under Section 390 of the Criminal Code Law, 2004.
It was alleged that between October 2017 and November 2021 in Lagos, they allegedly conspired to commit a felony: stealing by conversion of $5.636,397.01 and N73,543,763.25.
A copy of the charge numbered FHC/ABJ/OR/570/2023, obtained by our reporter yesterday, is dated December 4 and signed by Simon Lough (SAN), Deputy Commissioner of Police (DCP)/head of Legal/Prosecution Section.
The police said the accused “stole” the money, which is “the property of Summit Oil International Limited by dishonest conversion to your use”.
The prosecution said the alleged fraud by Akindele was “on account of the contract you and your company entered into with Shell Western Trading and you failed to deliver the money to Summit Oil International Limited”.
The case signalled serious fallout between Summit Oil and DMCL with significant consequences for the Energy Park project that was highly publicised as a blueprint for oil and gas collaboration capable of addressing the country’s crude production and gas processing shortcomings.
Industry analysts were initially reassured of the project’s governance and integrity given the sizeable investment by the Nigerian Content Development and Monitoring Board (NCDMB) and its prominent role on the board of DMCL.
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Reports that NCDMB initiated a forensic audit on the company last year added to the sense that things would be put right soonest, but the situation with the company deteriorated to the extent that Summit Oil, its upstream partner, and Union Bank, one of its lenders, commenced criminal and civil actions against Akindele and DMCL.
Meanwhile, the police sought to withdraw another N150 million bribery case against Akindele at the Federal Capital Territory High Court 20, Gudu, Abuja, numbered CR/595/2023 (IGP vs Akindele).
During proceedings before Justice Modupe Osho-Adebiyi, Akindele’s lawyer did not oppose the withdrawal application and prayed that his client be discharged and acquitted.
Summit Oil International’s (the complainant’s) counsel, J. Akomolafe (SAN), opposed the “strange” withdrawal application, arguing that the police gave no cogent reason for it.
A surprised Justice Osho-Adebiyi directed the prosecution to file a formal application providing written reasons for the withdrawal bid and adjourned until tomorrow for hearing.
Denying the allegations, Akindele had argued in a fundamental rights suit filed by his lawyer, Chief Bolaji Ayorinde (SAN), that the functions of the police do not include oppression, harassment or abuse of powers “under the guise of investigation of the alleged offence of fraudulent diversion of funds and other undisclosed allegations”.
He sued the IGP and others at the Federal High Court in Lagos.