The Chairman of Atlantic Energy Drilling Concepts Nigeria Limited, Jide Omokore has been acquitted of fraud allegations by the Federal High Court in Abuja.
Omokore, who is an ally of former Minister of Petroleum, Diezani Alison-Madueke, was initially arraigned in 2016 by the Economic and Financial Crimes Commission.
He was arraigned alongside Victor Briggs, Abiye Membere, and David Mbanefo on 15 counts of fraud.
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The trio were alleged to have fraudulently diverted about $1.6bn alleged to be part of proceeds of sales of petroleum products belonging to the Federal Government and were arraigned before Justice Nnamdi Dimgba.