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Police Arraign Couple, Firm Over $4.7m Theft

by Olugbenga Soyele
3 years ago
in News
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The police in Lagos yesterday arraigned a couple, Amaechi Ndili, his wife Njide Chizoba Ndili and their firm, Lionstone Offshore Services for allegedly stealing $4,666,234.28 meant for their business partner.

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The couple were docked before Justice Olubunmi Abike-Fadipe by the police on a three-count charge of conspiracy and stealing.

The police alleged in the charge that the defendants allegedly exploited the Local Content Act, by denying their foreign partner, Hercules Offshore Nigeria Limited the funds due to it.

The police claimed that Lionstone 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 Ltd.

The prosecution further 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 Hercules by their agreement, but instead, allegedly converted the money to their personal use.

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They were, in count one, accused of conspiring “to commit felony to wit. Stealing by conversion of the sum of $4,666,234.28 property of Hercules Offshore Nigeria Ltd, contrary to section 516 of the Criminal Code Law, Cap C38 laws of the Federation of Nigeria 2004.

The defendants were accused, in count two, of stealing “by dishonestly converting to your use the sum of $4,666,234.28 which you received from Addax Petroleum Development Nigeria Ltd on behalf of Hercules Offshore Nigeria Ltd, and therefore committed an offence contrary to Section 387 and punishable under Section 390 of the Criminal Code law, Cap C38 laws of the Federation of Nigeria 2004.


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