Shareholder Faults Controversial Tycoon Akintoye Akindele’s Defence of Alleged Fraud

MICHAEL AKINOLA 

The last is yet to be heard of the litany of alleged illegalities perpetrated by serial entrepreneur, Dr. Akintoye Akindele.

In a reaction to some claims made by Akindele through his company, Platform Capital concerning a suit filed by Duport Midstream Company Limited against Akindele’s Duport Energy Limited and four others at the Federal High Court, Lagos, a businessman and shareholder of the former, Mr. Tunde Onile-Ere said it is exigent to set the records straight.

According to Onile-Ere, in Akindele’s reference to Duport Midstream Company Limited, the well-meaning members of the public need not to be misled by false statements issued by Platform Capital on behalf of its principal, Akindele.

“The facts of the matter are that there are multiple petitions and complaints against Akindele which disclose allegations of illegality, disregard for corporate rules and corporate governance, and other allegations bordering on potentially criminal conduct. We are aware that the police is currently investigating these allegations,” Onile-Ere averred.

He added; “Contrary to a widely circulated statement of Platform Capital, the general public is enjoined to disregard any falsehood being peddled about.

“Documents filed in court and with the pertinent authorities disclose the true facts. It is therefore ridiculously shocking that Platform Capital suggests that the holding of majority shareholding in a company entitles one to disregard rule of law and corporate governance.

“Concerned shareholders of the company are respected professionals in various fields with enviable and spotless track records. The company is of the firm position that if Dr. Akindele has no case to answer or nothing to hide, he will confidently embrace the ongoing investigation and forensic audit of the company’s financial records as authorised by the Board since October 2022.

“As you read this, critical stakeholders are confident that the law will take its course as the collective goal is for the company to be well managed, in accordance with global best practices and established principles of corporate governance.

“This will be for the benefit of all shareholders, including the Nigerian Content Development and Monitoring Board (NCDMB), whose statutorily mandated responsibilities and investment in the company must not be jeopardized.

“The discerning members of the public are already well guided just as many others are already exercising caution in doing any business with this fellow with a questionable character.”

Last weekend, Akindele was arrested by the security operatives over allegations bordering on fraud but he’s been released on bail.