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The trial of Akindele Akintoye, Platforms Capital Investment Partners Limited, and Duport Midstream Company Limited resumed on Tuesday before Justice Ekerete Akpan of the Federal High Court in Abuja, with the Economic and Financial Crimes Commission presenting its fourth witness.
The defendants are facing charges regarding the alleged misappropriation of 35 million dollars allocated for a Nigerian Content Development and Monitoring Board project.
During his testimony, the fourth prosecution witness, Isaac Yalah, a former director at the NCDMB, informed the court that the defendants failed to provide any report indicating that the first two milestones had been achieved. “There was no official report submitted to the NCDMB detailing how the funds were utilized,” he stated.
He clarified that the funds were released in two phases into bank accounts managed by Atlantic International Refinery and Petrochemical Limited.
According to him, “It was expected that after the first tranche was disbursed, a comprehensive report outlining the work completed and the services rendered should have been submitted before any additional funds were released.”
Yalah also mentioned that the project, which was initially scheduled for completion within four months, remains unfinished.
“As it stands, the project has been abandoned,” he told the court.
The case has been adjourned until December 3, 2025, for cross-examination.
Frequently Asked Questions
What are the charges against the defendants?
The defendants face charges related to the alleged misappropriation of 35 million dollars intended for a Nigerian Content Development and Monitoring Board project.
Who testified in court?
Isaac Yalah, a former director at the NCDMB, was the fourth prosecution witness to testify.
What is the current status of the project?
The project, which was supposed to be completed within four months, has been abandoned and remains unfinished.
Eze Chidiebere Paul
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