TransparencIT
TransparencIT
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Money laundering

Oct 11, 2025

FRN vs Akindele Akintoye & 1 other

Humans

Akindele Akintoye
& 1 other

Money bag

$35,000,000.00
Amount allegedly laundered

Money bag

Case Summary
The accused allegedly mooted the idea of the project to the Board and the NCDMB embraced it with a counterpart funding of the said sum. He allegedly received the funds through the bank account of Atlantic International Refinery and Petrochemical Limited and funneled the funds into four of his companies: Platform Capital Investment Partners, Duport Midstream Company Ltd., Puisance Afrique Dynamics Ltd., Adamantine Petrochemical & Refinery Ltd and Bureau de Change outlets, and thereby committing an offence contrary to Section 15(2)(d) of the Money Laundering (Prohibition) Act, 2011 (as amended by Act No.1 of 2012) and punishable under Section 15(3) of the same Act.

Calendar

291
Day(s) since arraignment

Court house

Hon. Justice Emeka Nwite
Federal High Court, Maitama, Abuja

Case Information
Akindele Akintoye & 1 other
Presiding Judge & Designated Court
Hon. Justice Emeka Nwite, Federal High Court, Maitama, Abuja
Nature and Number of Charges
4-count charge bordering on money laundering and contract fraud.
Date of 1st Arraignment
Dec 24, 2024
Summary of Case
The accused allegedly mooted the idea of the project to the Board and the NCDMB embraced it with a counterpart funding of the said sum. He allegedly received the funds through the bank account of Atlantic International Refinery and Petrochemical Limited and funneled the funds into four of his companies: Platform Capital Investment Partners, Duport Midstream Company Ltd., Puisance Afrique Dynamics Ltd., Adamantine Petrochemical & Refinery Ltd and Bureau de Change outlets, and thereby committing an offence contrary to Section 15(2)(d) of the Money Laundering (Prohibition) Act, 2011 (as amended by Act No.1 of 2012) and punishable under Section 15(3) of the same Act.
Defendant(s) and Plea entered on Arraignment
1. Akindele Akintoye – Not guilty
2. Platform Capital Investment Partners Limited (Company) – Not guilty
Defence Counsel(s)
1. Emmanuel Esadio (Lawyer)
Prosecuting Agency
Economic and Financial Crimes Commission
Prosecutor(s)
1. Ekele Iheanacho (Lawyer)
Status of Case
On Trial
Stage of Trial
Prosecution Stage
Length of Trial
291 day(s)