Akintoye Akindele, the Managing Director of Atlantic International Refinery and Petrochemical Limited, is presently being held at the Economic and Financial Crimes Commission’s holding facilities in Abuja.
It was learned that Akindele was detained by commission agents on suspicion of embezzlement, money laundering, and diversion of $35 million in public monies.
The Nigeria Content Development and Monitoring Board reportedly paid Akindele $35 million to construct a 2,000 barrel-per-day refinery, jetty, gas plant, power plant, data center, and tank farm at the Brass Free Trade Zone, Okpoama Community in the Brass Local Government Area of Bayelsa State, according to commission sources. They further stated that Akindele was charged with forsaking the projects after he was given the funds in December 2020.
According to one of the sources who reached BrandSpur national news stories: “Akindele, a promoter of the Energy Infrastructure Park financed by the Nigeria Content Development and Monitoring Board, in Okpoama community in Brass LGA of Bayelsa state, initially mooted the idea of the project to the board and the NCDMB embraced it with a counterpart funding to the tune of $35m.
“NCDMB allegedly paid $35m to Akindele to build a 2,000bpd refinery, jetty, gas plant, power plant, data centre and tank farm at Brass Free Trade Zone, Okpoama Community in Brass LGA of Bayelsa State. Since December 2020 when the payments were made, Akindele allegedly abandoned the project with little or nothing to show for the huge sum paid to him,” they added.
According to a different source, Akindele allegedly moved the funds to four of his businesses after receiving them via Atlantic International Refinery and Petrochemical Limited.
Continuing, the source said: “Akindele received the funds through the bank account of Atlantic International Refinery and Petrochemical Limited and funnelled the funds into four of his companies: Platform Capital Investment Partners, Duport Midstream Company Ltd., Puissance Afrique Dynamics Ltd, Adamantine Petrochemical & Refinery Ltd and Bureau de Change outlets.
“The EFCC has been on a manhunt for him for several months until he finally showed up when he could no longer bear the fire on him. He was thereafter arrested and detained at the commission’s holding facility in Abuja,” the source added.
Dele Oyewale, the EFCC spokesperson, confirmed Akindele’s detention when reached but declined to elaborate further.
