The trial of the embattled Chairman of Atlantic Energy Brass Development Limited and Atlantic Energy Drilling Concept Limited, Jide Omokore, continued today, March 1, 2017 before Justice Nnamdi Dimgba of the Federal High Court, Abuja with the Economic and Financial Crimes Commission, EFCC presenting its second prosecution witness, PW2, Yusufu Matashi, Managing Director, Nigerian Petroleum Development Company Limited, NPDC.
While being led in evidence by the prosecution counsel, Rotimi Jacobs, SAN, Yusufu said the company allocated 7, 553, 733 barrels of crude oil to Atlantic under a Strategic Alliance Agreement (SAA).
He admitted that while the total value of the transaction as at 2014 was $823,750,159, Atlantic Energy Drilling Concept Limited could not meet up with its cash call for operations and training which made NPDC, a subsidiary of Nigerian National Petroleum Corporation, NNPC, to use funds in its account to clear outstanding payments.
Justice Dimgba thereafter adjourned the matter to March 2, 2017 for cross-examination of the witness.
Omokore, who was on November 21, 2016, re- arraigned alongside Victor Briggs, Abiye Membere, David Mbanefo, Atlantic Energy Brass Development Limited and Atlantic Energy Drilling Concepts Limited is standing trial on a 9-count amended charge of criminal diversion of about $1.6 bn alleged to be proceeds of petroleum products belonging to the federal government.