Lionstone Offshore Services Boss, Arraigned Over Alleged Theft Of $4.7m

 

The Lagos State Special Offences Court sitting in Ikeja area has fixed January 30, next year for the commencement of trial of the CEO of Lionstone Offshore Services, Amaechi Ndili and his wife, Njide, over allegations of $4.7million theft.

The Ndili’s were arraigned alongside the company Lionstone Offshore services on a three counts charge by the Inspector General of Police, IGP, before Justice Olubunmi Abike-fadipe .

The charges against the couple borders on stealing and conversion of $4.7million to personal use.

According to the charge information, the defendants were alleged to have dishonestly converted the sum of $4,666,234.28 they received from Addax Petroleum Development Nigeria Limited on behalf of Hercules Offshore Nigeria Limited to personal use.

The defendants allegedly obtained the money for the contract that, the duo and their company, Lionstone Offshore Limited, entered into with Addax Petroleum Development Nigeria Limited, which was executed by Hercules Offshore Nigeria Ltd, but they failed to deliver the money to Hercules.

The prosecution counsel led by Assistant Commissioner of Police, ACP, Simon Lough, SAN, in the charge alleged that Lionstone Limited was engaged by Hercules as its local partner and to receive payments on its behalf in respect of contracts it executed for Addax Petroleum Development Nigeria Limited.

The police alleged that the $4,666,234.28 formed part of the payments the defendants received on behalf of Hercules, but which they failed to remit to Hectares in accordance with their agreement, but instead, allegedly converted the money to their personal use.

Their offence is contrary to Section 516, 387 and qpunishable under Section 390 of the Criminal Code Law, Cap C38 Laws of the Federation of Nigeria 2004.

Following their plea of not guilty to the three counts charge, the defendants lead counsel, Mr. Ebun Shofunde (SAN) prayed to the court to grant the defendants bail.

He noted that the first defendant, Amaechi, had earlier been granted bail before when he was arraigned before Justice Sherifat Sholebo.

Justice Abike-Fadipe however admitted them to bail. Allowed the first defendant to continue with the bail granted earlier by the sister court.

The court granted bail to the second defendant in the sum of N20 million with two sureties in like sum and also ordered that one of the sureties must have landed property in Lagos State. The court also ordered that sureties must have evidence of tax payment.

Justice Abike-Fadipe further ordered that all conditions must be met within 14 days, failure of the second defendant to comply, the judge said she will remand her in a correctional facility.