Alleged $5.6m Fraud: Court Remands Oil Magnate, Akintoye Akindele in Kuje Prison Pending Bail Perfection

Justice James Omotosho of a Federal High Court in Abuja, yesterday, ordered the remand of the Managing Director and Chief Executive Officer (MD/CEO) of Duport Midstream Company Limited, Mr. Akintoye Akindele, at the Kuje Correctional Center, Abuja.

Akindele, will remain in custody till March 20, when the court will consider documents confirming the perfection of the bail granted him earlier.

Recall that the court had on March 1, admitted him to bail in the sum of N750 million with two sureties in like sum, shortly after he was arraigned on allegations bordering on fraud to the tune of $5.6 million.

Justice Omotosho in granting the bail, held that the defendant must meet all the conditions attached to the bail before or by March 8, and later adjourned till March 15, for commencement of trial.

Part of the conditions are that the two sureties, must own landed property within the jurisdiction of the court. In addition, the sureties who must swear to an affidavit of means are to also deposit their statements of account with the registrar of the court.

Justice Omotosho, who had held that because the defendant came to court from his house, the court will permit him to enjoy the bail of the FCT High Court, till March 8, maintained that the defendant will be remanded if he fails to meet the conditions of the new bail by March 8, 2024.

However, when the case came up for trial yesterday, prosecution lawyer, Mr. Simon Lough, SAN, attempted to make an oral application seeking the transfer of the case from the Federal High Court, Abuja, to the Federal High Court, Lagos.

According to him, the proper jurisdiction for the trial of the defendant is Lagos Division; being the jurisdiction the alleged offence occured, and all the witnesses as well as evidence are all in Lagos.