The Chief Executive Officer (CEO), Lionstone Offshore Services, Amaechi Ndili and Vice President of the company, Mrs Njide Chizoba Ndili were yesterday arraigned before an Ikeja Special Offences Court for allegedly stealing and converting $4.7million for their own use.

The defendants were arraigned alongside their company by the Inspector General of Police before Justice Olubunmi Abike-Fadipe.

They were alleged to have dishonestly converted $4,666,234.28  received from Addax Petroleum Development Nigeria Limited on behalf of Hercules Offshore Nigeria Limited.

The prosecution led by Assistant Commissioner of Police (ACP) Simon Lough alleged that the defendants 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 failed to deliver the money to Hercules.

Counsel to defendants argued that Lagos State High Court did not have constitutional power and jurisdiction to prosecute a case under the Federal Act.

But the court agreed with the submission of the prosecution that the defendants must first take their plea before issues can be raised about the jurisdiction of the court to entertain the matter.

Lead counsel to the defendants, Ebun Shofunde (SAN) prayed the court to grant the defendants bail.

Justice Abike-Fadipe admitted the defendants to bail and allowed the first defendant to continue with the bail granted earlier by the sister court.

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

The matter has been adjourned to January 30, 2023.

Source: The Nation