Alleged N8.9bn Fraud: Court docket Remands Nigerian Billionaire In Kuje Jail – Life-style Nigeria

Alleged N8.9bn Fraud: Court docket Remands Nigerian Billionaire In Kuje Jail – Life-style Nigeria

A Federal Excessive Court docket (FHC), Abuja, on Friday, ordered the Managing Director and Chief Govt Officer (MD/CEO) of Duport Midstream Firm Restricted, Akintoye Akindele, to be remanded in Kuje Correctional Centre over alleged $5.6m fraud.

Justice James Omotosho, in a brief ruling, directed Akindele to be remanded within the correctional centre pending the perfection of his bail.

Justice Omotosho, thereafter, adjourned the matter till March 20 when the court docket will contemplate paperwork confirming the perfection of the bail earlier granted him.

The Information Company of Nigeria (NAN) recollects that the choose had, on March 1, admitted Mr Akintoye Akindele, a businessman to bail within the sum of N750 million with two sureties in like sum.

He stated the 2 sureties should personal landed property inside the jurisdiction of the court docket, should swear to an affidavit of means and deposit their statements of financial institution accounts with the court docket registrar.

Justice Omotosho in granted the bail, held that the defendant should meet all of the situations hooked up to the bail earlier than or by March 8.

Justice Omotosho, who stated that for the reason that defendant got here to court docket from his home, the court docket would allow him to proceed to benefit from the bail of the FCT Excessive Court docket until March 8, maintained that the defendant could be remanded if he failed to satisfy the situations of the brand new bail by March 8.

He then and adjourned until March 15 for graduation of trial.

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