Court Acquits Lionstone MD, Others in $4.66m Theft Case
The Lagos State High Court sitting in Ikeja has discharged and acquitted the Managing Director of Lionstone Offshore Services, Amaechi Ndili, and three other Defendants over an alleged theft of
The Lagos State High Court has acquitted Amaechi Ndili, the Managing Director of Lionstone Offshore Services, and three other individuals in a $4.66 million theft case. The judgement was delivered on September 16, 2026. The case, filed on four counts of conspiracy, theft, and dishonest conversion, alleged that the defendants conspired to steal $4,666,234.28 between July 2012 and September 2013.
The money was reportedly related to payments from Addax Petroleum to Hercules Offshore Nigeria Limited. The defendants pleaded not guilty to the charges. Justice Olubunmi Abike-Fadipe dismissed the prosecution's case, stating that the police are not debt-recovery agents and that the criminal proceedings were an abuse of the court process.
The court had previously granted an arbitration award in London and a Federal High Court order in 2017 to enforce it. The acquittal concludes the criminal case against the defendants at the trial court and emphasizes the difference between criminal prosecution and civil proceedings for enforcing financial claims.
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