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Alleged N240bn Scam: Embattled Businessman, Akintoye Akindele Faces Class Action As 20 Victims Seek Justice

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More than 20 notable Nigerians are set to commence a class action against oil magnate and former Managing Director of Duport Midstream Company Limited, Akintoye Akindele, over alleged scam, running to over $150 million (over N240 billion).

 

A media practitioner, Mr. Lere Olayinka, who spoke on behalf of the victims disclosed that a senior lawyer based in Abuja has already been briefed to take action against the controversial businessman.

 

In recent time, Akindele, who is also the boss of Atlantic Refineries and Chairman of Platform Capital, has been in the eyes of storm with accusations and counter accusations bothering on misappropriation of funds, alleged shares racketeering, manipulating boards decision among other allegations.

 

On 1 March, 2024, Justice James Kolawole Omotosho of the Federal High Court in Abuja had ordered the remand of Akindele at the Kuje Correctional Centre in the nation’s capital.

 

 

Justice Omotosho ruled that Akindele should remain in custody till 20 March 2024, when the court will consider documents confirming the perfection of the bail granted him earlier.

 

However, this planned class suit is coming a few weeks before Akindele’s trial in Lagos for an alleged malfeasance involving the diversion of $5,636,397.01, and N73,543,763.25, belonging to Summit Oil International Ltd, a company founded by the Late Philanthropist and Politician, Chief Moshood Kashimawo Abiola and also bribery of the Police with N150 million.

 

 

 

The trial, which was moved to Lagos from Abuja in May, this year, will begin in Lagos on 3 October.

 

 

Justice Omotosho had on 9 May, 2024, ordered that the trial of Akindele in the alleged $5.6m fraud be moved from Abuja to the Lagos division of the court.

 

Akindele and his company, the second defendant in the suit marked FHC/ABJ/CR/570/2023, were said to have committed the act between 2017 and 2021 when they allegedly converted the said sum received from Shell Petroleum Company into personal use.

 

Similarly, the oil magnate is also facing prosecution for allegedly bribing the police with N150 million to stall their further investigation of the case.

 

 

His trial for the alleged N150 million bribery will also commence in Lagos on 29 October 2024.

 

P.M.EXPRESS learnt that victims of Akindele’s various scams he allegedly perpetrated in the past have decided to take him head on for justice.

 

According to Olayinka, one of the victims, who is a notable player in the oil & gas industry initiated the move for the class action.

 

He opened a WhatsApp Platform to coordinate other victims.

 

Akindele’s trouble started early in the year when he was arrested by the Police in Abuja for allegedly fleecing Duport Midstream Company Limited of $25 million, part of which a sum of $5.6 million belonged to Summit Oil International.

 

Ever since, he has been in and out of the court.

Society

Billionaire Femi Otedola’s mother, Christine, receives prestigious Papal honour…

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In a remarkable recognition of her selfless service to the Catholic Church and society, Mrs Christine Doja Otedola, mother of renowned businessman Femi Otedola, has been conferred with a Papal Honour by Pope Francis.

 

 

A Papal Honour, also known as a Pontifical Honour, is a prestigious award conferred by the Pope, the head of the Catholic Church, on individuals who have demonstrated exceptional service, dedication, and commitment to the Church and society.

 

The honour, one of the highest in the Catholic Church, was presented to Mrs Otedola by His Grace, Archbishop Alfred Adewale Martins of the Metropolitan See of Lagos, on behalf of the Pope, on September 14.

 

Mrs Otedola was specifically recognised in the Pro Ecclesia et Pontifice category, a testament to her unwavering commitment to the Church and humanity.

 

Femi Otedola took to his X page to celebrate his mother’s achievement.

 

 

Sharing photos from the ceremony and expressing his pride, he wrote: “Congratulations, Mummy – Dame Christine Doja, on your award of the Papal Honour of Pro Ecclesia et Pontifice by His Holiness Pope Francis. This is an honour well deserved.”

 

 

 

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Society

Real Reasons ICPC Arrests El-Rufai’s Finance Commissioner, Shizzer Joy Nasara Bada At Lagos Airport

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Bada was reportedly travelling out of the country on Sunday when ICPC operatives apprehended her at the Murtala Muhammed Airport in Lagos. 

 

 

 

Operatives of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) have arrested a former Commissioner of Finance and Accountant General in Kaduna State, under Nasir el-Rufai’s administration, Shizzer Joy Nasara Bada at the Lagos Airport.

 

 

Bada was reportedly travelling out of the country on Sunday when ICPC operatives apprehended her at the Murtala Muhammed Airport in Lagos.

 

The ICPC officials said there was rising suspicion of a potential escape in the wake of mounting corruption allegations against the ex-governor el-Rufai, and herself.

Sources close to the government indicated to The Guardian that the ICPC had been tracking Bada’s movements after receiving an intelligence report suggesting that she might leave the country to evade investigation.

 

 

 

The arrest came as part of a broader crackdown on officials who served under el-Rufai’s administration, with multiple figures now under scrutiny for their roles in the alleged financial mismanagement of the state.

 

 

Already, el-Rufai has been indicted by the Kaduna State House of Assembly in its committee report of allegedly syphoning N423 billion from the state treasury. While the specific allegations against Bada remain under wraps, insiders believe they are connected to large-scale financial irregularities, including the mismanagement of public funds and alleged embezzlement.

Bada’s arrest has sparked widespread interest, with political observers questioning whether this could be the beginning of a wider probe into the former governor’s administration.

 

 

 

The Commission is expected to provide more details as the investigation unfolds, potentially exposing a web of corruption that could implicate several top figures.

Recall that Nasir El-Rufai, had also initiated a legal action against the Kaduna State House of Assembly following its claim that his administration misappropriated N432 billion during his eight-year tenure, resulting in significant state debt.

 

 

 

A fundamental rights suit was filed at the Federal High Court in Kaduna in June by the former governor’s attorney, Abdulhakeem Mustapha, a Senior Advocate of Nigeria.

 

 

 

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Society

Pre-paid meter bills: Nigerians dump electrical appliances to cut cost  …..

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Usage of electrical appliances is one lifestyle Nigerians have come to embrace to achieve ease and save time in the various activities they perform in their homes.

 

 

During the era of pre-paid metres, gadgets such as electric stove, cooker, blenders, washing machines, boiling rings, pressing iron, deep freezers, among others, were highly purchased by households to either upgrade their kitchens or ease time in activities surrounding their lives.

 

 

Many especially women join thrift’s contribution (ajo or esusu as popularly known in Nigeria) to be able to raise money to purchase some of these items thereby putting smiles on the faces of producers and distributors of such gadgets.

 

However, the economy and lifestyle has discovered that many households have now abandoned the use of most of these gadgets since the introduction of prepaid meters.

 

Some ended up selling them to people selling fairly used products or other people still on post paid meters.

 

 

Mrs. Bridget Johnson, a banker said: “ Since I started using prepaid meter, I have stopped using most of my gadgets, especially the electric cooker, washing machine, pressing iron, among other things.

 

“We watch television set once a day. I had to buy an ipad where I downloaded various types of cartoons and educational materials for my kids to keep them busy.

 

“We switch off the lights and put on my fridge for three hours and switch it off once it is iced for a day.

 

“The rate at which the prepaid meter runs is alarming of recently.

 

 

Before I pay N32 per unit and when I load N10,000 with strict adherence to the rules my husband and I placed in the house it lasts us up to two weeks for the bills to get exhausted.

 

 

But recently, I discovered that when I loaded the N10,000 it wasn’t up to the two weeks before it finished.

 

“I had to call the electricity distribution office where they told me I had been transferred to band A.

 

“I was so pissed off with such a transition but had no choice than to accept it .

 

“In Nigeria of today you have to cut costs whether you like it or not.”

 

 

Mr. Shodimu Olorunfemi, a businessman, said: “Using a prepaid meter has its own advantages. “One of them is regulating what you consume.

 

“By doing so you have to forfeit carrying out certain lifestyles, especially using electronic gadgets that consume lots of electricity.

 

“Such gadgets like electric cooker, hot plate, pressing iron, refrigerator, Air conditioner, among others consume higher units of electricity.

 

 

In my house, I prohibited the switching on of lights during the day and also watching television all the time.

 

“Except I have a very important event I want to attend, I don’t iron my clothes. I pick the clothes for each day and hang them to straighten up.

 

 

My wife and I had to give out most of our gadgets to family members and friends who use post paid meters.

 

“With this development and the state of the economy, those selling electronic gadgets are on the losing side because people like us will not even have a spoilt gadget talk of buying a new one.”

 

For Mrs. Bakare Judith, a secretary and newly wed, she sold all her home appliances that consume high electricity units.

 

“I had to sell most of the electric gadgets I brought to my husband’s house when I discovered that he was using a prepaid meter.

 

 

I use the blender once in two months and ironing is done once in a blue moon.

 

 

 

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