The Economic and Financial Crimes Commission (EFCC) has arrested the managing director of Atlantic International Refinery and Petrochemical Limited Akintoye Akindele.
He is accused of misappropriation, money laundering and diversion of public funds to the tune of $35m.
Sources quoted by PUNCH said the Nigeria Content Development and Monitoring Board allegedly paid $35m to Akindele to build a 2,000 barrel-per-day refinery, jetty, gas plant, power plant, data centre and tank farm at Brass Free Trade Zone, Okpoama Community in Brass Local Government Area of Bayelsa State.
Akindele, who is said to have been paid since December 2020, allegedly abandoned the projects.
One source told the newspaper that Akindele allegedly received the money through the Atlantic International Refinery and Petrochemical Limited and sent it to four of his companies.
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.”
According to the source, Akindele is being detained in Abuja.
EFCC’s spokesperson Dele Oyewale confirmed Akindele’s arrest to the newspaper but refused to comment further.
