The trial of Akindele Akintoye, Platforms Capital Investment Partners Limited and Duport Midstream Company Limited resumed on Tuesday before Justice Ekerete Akpan of the Federal High Court in Abuja, with the Economic and Financial Crimes Commission presenting its fourth witness.
The defendants are facing charges over the alleged conversion of 35 million dollars released for a Nigerian Content Development and Monitoring Board project.
Testifying, the fourth prosecution witness, Isaac Yalah, a former director at the NCDMB, told the court that the defendants did not submit any report showing that work on milestones one and two had been completed. “There was no official report to the NCDMB showing how the breakdown of the funds was spent,” he said.
He explained that the money was released in two stages into bank accounts operated by Atlantic International Refinery and Petrochemical Limited.
According to him, “Expectations are that after the disbursement of the first tranche, a conclusive report detailing work done and services should have been provided before any further disbursement.”
Yalah added that the project, originally meant to be completed within four months, remains unfinished.
“The project currently as it stands has been abandoned,” he told the court.
The matter was adjourned to December 3, 2025, for cross-examination.