The Managing Director of Atlantic International Refinery and Petrochemical Limited, Akintoye Akindele, has been detained at the Economic and Fin
Akindele, it was gathered, was arrested by EFCC operatives on charges of misappropriation, money laundering, and the diversion of public funds amounting to $35 million.
Sources within the commission indicate that the Nigeria Content Development and Monitoring Board had disbursed $35 million to Akindele for the construction of a 2,000 barrel-per-day refinery, along with a jetty, gas plant, power plant, data center, and tank farm at the Brass Free Trade Zone in Okpoama Community, Brass Local Government Area, Bayelsa State.
However, after receiving the funds in December 2020, Akindele is alleged to have abandoned the projects.
One of the sources said, “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 the payments were made in December 2020, Akindele is said to have neglected the project, with little to no progress reported despite the substantial amount he received.
Another source claims that Akindele reportedly channeled the funds through Atlantic International Refinery and Petrochemical Limited, subsequently distributing them to four of his other companies.
“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 source said.
“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 EFCC’s spokesperson, Dele Oyewale, confirmed Akindele’s arrest.
