A Lagos businessman who disputes bribery charges to the police and is released on bail of N500 million

Akintoye Akindele, a Lagos businessman, has been accused of proposing police a bribe of N150 million to help him get away with an alleged fraud. Akindele has disputed the allegations against him.

On Tuesday, Akindele, Managing Director of Duport Midstream Company, appeared in the High Court of the Federal Capital Territory FCT, Abuja, and pleaded not guilty to the one count indictment against him.

The defendant was charged by the Inspector General of Police, represented by Mr. Simon Lough, SAN, for allegedly offering N150 million to police to obstruct investigations into a petition filed against him by Summit Oil International Limited.

According to the complaint, Akindele paid N50 million to a Federal Investigation Bureau team led by one Ibrahim Ezekiel Sini.

The defendant in the Summit Oil case was charged with conspiring with others to steal $5, 636, 397 and another N73, 543, 764 from the corporation.

Akindele, however, disputed the accusation when it was read to him and entered a not guilty plea.

The Police Counsel then requested a postponement in order to gather evidence and witnesses to present against the accused.

Henry Eni-Otu and Pelumi Olajengbesi of Law Corridor, who represented the defendant, argued persuasively for his release on bail with lenient terms.

Counsel brought to the court’s attention, among other things, the fact that their client had been detained by police for almost three weeks in connection with the aforementioned petition.

Assuring the court that Akindele will comply with all release conditions, Eni-Otu urged them to grant bail under Section 158 of the Administration of Criminal Justice Act, 2015.

Justice Hamza Muazu granted bail to the defendant in the amount of N500 million with two sureties in the same amount.

However, the two guarantors must be verified landowners in the Federal Capital Territory (FCT).

At the time of this publication, the defendant’s friends and allies had retained legal representation and were working to finalize the terms of his bail.

There has been no progress in setting a trial date.