A Federal High Court sitting in Abuja on Tuesday, fixed January 8, 2025 for ruling on a bail application filed by the Founder and Chairman of Platform Capital Investment Partners Limited, Mr Akindele Akintoye.
Justice Emeka Nwite fixed the date after the defence counsel, Emmanuel Esedo, and Martha Babatunde, who appeared for the Economic and Financial Crimes Commission (EFCC), argued their case for and against the bail application.
When the matter was called, Esedo informed the court that the matter was slated for a hearing of their application for bail and that, the anti-graft agency had been duly served with the application.
However, Babatunde told the court that, the prosecution had just received a further affidavit from the defence and that new facts were raised which they would need to respond to.
“They said the correctional centre does not have the facility to take care of the defendant. We would like to respond to those facts my lord,” she said.
But Esedo, who said there should be an end to litigations, said the issue that the correctional centre did not have facility to take care of his client was not a new issue and told the court that before they got to court, they were informed by the officers of the correctional centre that Akintoye fainted.
Moving the motion, after the leave of the court, Esedo said the bail application filed on December 23 is seeking an order admitting Akintoye to bail pending the hearing and determination of the charge against him.
The lawyer said two exhibits, a copy of the medical report and a ruling by Justice Adebiyi of FCT High Court were attached to the application and urged the court to exercise its discretion in favour of the Akintoye.
He said they also filed a further affidavit in response to the EFCC’s counter with two exhibits attached.
“We have Exhibit AA-3, which is a copy of the letter by the applicant’s lawyer to the commission explaining his absence from Nigeria when he was first invited.
“We have Exhibit AA-4, which is a copy of letter directed to EFCC explaining the issue of the international passport of the applicant,” he said.
Justice Nwite then asked of the where about of the defendant’s International Passport? and Esedo explained that Akintoye was also facing a charge before an FCT High where the travel document was deposited.
He said when his client wanted to travel abroad for medicare, the court released the document to him through the sureties and that, after the trip, the travel documents were deposited with the sureties who were in Lagos in accordance with the order of the court.
“If the court makes an order for the international passport to be produced, how do will reconcile this now?” the judge asked.
Esedo said if the judge insisted that the travel documents should be produced, it would be in breach of the order of the FCT High Court
“Everything they canvassed here has been canvassed before the other court which ordered that he should be released unconditionally,” he said.
Justice Nwite said the order of the court must be made to ensure the defendants stands his trial.
Responding, Babatunde, who represented EFCC, said in response to the bail application, they filed eight paragraphs counter affidavit with eight exhibits and urged the court to refuse Akintoye’d bail plea.
According to her, the reason the prosecution is praying the court to refuse this application is that the applicant (Akintoye) is a flight risk.
She argued that the instant case, which bordered on money laundering offence, was different from the other two which the defendant is facing trial and also argued that the court cannot be bound by the terms of the previous bail granted to Akintoye.
The EFCC lawyer alleged that when Akintoye was granted an administrative bail by the commission, he was asked about his international passport but he claimed it was submitted to the FCT High Court.
“We wrote the court and the court said it is with the defendant. This attitude of the defendant shows that he may likely jump bail,” she said.
But Akintoye’s lawyer told the court that his client was in EFCC detention for 60 days after he honoured the invitation before being brought to court.
He alleged that the anti-graft agency equally refused to produce him in court where he is standing trial on two occasions when the matter came up.
Justice Nwite adjourned the matter till January 8 for ruling on the bail application.
Akintoye, in the four-count charge, was alleged to have diverted a sum of $26,,060, 406.00 US dollars meant to build a refinery in Brass, Bayelsa.
Akintoye, Platform Capital Investment Partners Limited and Duport Midstream Company Limited, where he is also the Managing Director and CEO, were sued as 1st to 3rd defendants respectively, by the anti-graft agency.
The EFCC, in the charge marked: FHC/ABJ/CR/641/V/2024 filed on December 19 by its lawyer, Ekele Iheanacho, SAN, alleged that Akintoye and Platform Capital Investment Partners Limited had between December, 2020 and February, 2021, indirectly retained 16 million dollars.
The amount, the EFCC said, was part of the funds dishonestly converted from the money paid by the Nigerian Content Development and Monitoring Board (NCDMB) Capacity Development Intervention Company Ltd to Atlantic International Refinery and Petrochemical Limited as investment.
The said sum of $16, 006, 000 is alleged to constitute proceed of unlawful activity. The offence, EFCC said, is contrary to Section 15 (2) (d) of the Money Laundering Prohibition Act, 2011 (as amended) by (Act No. 1 of 20!2) and punishable under Section [5(3) of the same Act.
In count two, Akintoye and Platform Capital were alleged to have, between December, 2020 and January, 2021, indirectly used the aggregate sum of $9, 048, 725, being part of the funds dishonestly converted from the money paid by the NCDMB Capacity Development Intervention Company Ltd to Atlantic International Refinery and Petrochemical Limited as investment.
The said sum of $9, 048, 725 is said to constitute proceeds of unlawful activity and the offence is contrary to Section 15 (2) (d) of the Moncey Laundering Prohibition Act, 2011 (as amended) by (Act No. 1 of 2012) and punishable under Section 15(3) of the same Act.
The EFCC, in count four, accused Akintoye and Duport Midstream of allegedly retaining the sum of $220, 000 being patt of the funds dishonestly converted from the money paid by the NCDMB Capacity Development Intervention Company Ltd to Atlantic International Refinery and Petrochemical Limited as investment.
The money is said to be proceed of unlawful activity and the offence is 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.
After the charge was read to Akintoye, he, and on behalf of the companies, pleaded not guilty to all the counts and the court ordered that he should be remanded at Kuje Correctional Centre pending the determination of his bail application.
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