Akingbola, other bank chiefs to face fresh charges today

Posted by admin Headlines Tuesday, May 10th, 2011

The Economic and Financial Crimes Commission (EFCC) would today arraign former Chief Executive Officer (CEO) of Intercontinental Bank Plc., Erastus Akingbola and his wife, Anthonia, on a 29-count charge before a Lagos High Court sitting in Ikeja.
They would be arraigned along with other sacked bank chiefs who include Okey Nwosu of Finbank and Sebastine Adigwe of Afribank.

Akingbola, who was already facing corruption and money laundering charges before Justice Charles Archibong of the Federal High Court, Lagos, was re-arrested by the EFCC last week for allegedly stealing about N47.1 billion from Intercontinental Bank Plc.
Daily Sun gathered that the former bank Executives are to be tried at the Lagos High Court, rather than the Federal High Court, where they were first arraigned.
This would be the third amended charge the EFCC was bringing against Akingbola, since he was removed as the Chief Executive Officer (CEO) of the bank by the Governor of Central Bank.

The last amended charge filed at the Federal High Court, Lagos by the Commission was a 26-count amended charge, dated December 13, 2010.
The anti-graft agency had last Friday, filed a 29-count charge against Akingbola, his wife and one Bayo Dada for allegedly stealing over N47billion belonging to the bank.

While Akingbola’s wife, who EFCC alleged is now at large, was a shareholder and Director of Tropics Securities Limited, Dada was a General Manager with the firm. Mrs Akingbola and Dada were alleged to have received money by falsely pretending that the bank was indebted to the firm in respect of shares of that amount purchased on its behalf.
They allegedly committed all the offences between March and July 2009 and would be arraigned today for stealing, receiving stolen property and obtaining under false pretence.

However, Akingbola had in a motion through his counsel, Chief Felix Fagbohungbe (SAN) challenged the validity of the amended charge on the ground that the proposed amended charge was meant to overreach his objection on the earlier charge filed on January 29, 2010 and prejudiced him.
In urging the court to dismiss the charge, he said the prosecution was pursuing a piece-meal prosecution to his detriment.

-Sunwp_posts