BY SUNDAY SAMUEL—The trial of Akindele Akintoye resumed on Monday, before Ekerete Akpan of the Federal High Court in Abuja, with the fourth prosecution witness, Isaac Yalah, telling the court that the Nigerian Content Development and Monitoring Board (NCDMB) had formally raised concerns with the defendant over the failure of Atlantic International to hold board meetings and report their outcomes to the board.
The Economic and Financial Crimes Commission (EFCC) is prosecuting Akintoye alongside Platforms Capital Investment Partners Limited and Duport Midstream Company Limited on an amended six-count charge involving alleged dishonesty and the diversion of $35 million belonging to an NCDMB project.
While being cross-examined by counsel to the first and second defendants, E. O. Adekwu, SAN, the witness, who previously served as Director of Finance and Personnel as well as Director of Planning, Research and Statistics at NCDMB, said the board lodged the complaint in February 2023 through a communiqué. According to him, the complaint highlighted that board meetings of Atlantic International Refinery and Petrochemical Limited had not been taking place.
Responding to questions on whether he had ever raised a formal complaint about the absence of board meetings, Yalah explained that meetings were initially held frequently at the beginning of the project.
“At the early stage of the project, board meetings were held consistently to brief members on the progress of the project. However, when several board members resigned, the meetings became irregular. That was when official complaints were made,” he said.
He added that the complaint also focused on the delay in implementing the project and the failure to hold board meetings as expected.
The witness further stated that in early February 2023, NCDMB issued a communiqué to the first defendant addressing the concerns.
“I remember clearly that in early February 2023, NCDMB sent a communiqué to the first defendant. The complaint we raised was reflected in Exhibit E,” he told the court.
Yalah also explained that the complaint regarding the absence of board meetings was written on the official letterhead of NCDMB and addressed to the first defendant in his capacity as chairman and managing director.
He also informed the court that NCDMB had serious concerns about the financial sustainability of the project.
Following the proceedings, Justice Akpan adjourned the case until March 10, 2026, for the continuation of cross-examination.
