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Akingbola gives conditions for home-coming

By Omoh Gabriel, Business Editor
LAGOS—Dr. Erastus Akingbola, the estranged former Managing Director of Intercontinental Bank Plc, weekend, said he was never in hiding and that he was prepared to come home once the Economic and Financial Crimes Commission, EFCC, and other law enforcement agencies’ hounding him, assures him of his personal safety and that of his family.

He stressed that the loan forgiveness granted by the caretaker management of the bank was an orchestrated attempt to forcefully take it over and not merely to protect the depositors of the bank.

Mr Erastus Akingbola
Mr Erastus Akingbola

A statement issued on his behalf by Mr Charles Nwajagu, his Public Affairs Counsel, noted that; “Following revelations of the “loan forgiveness” which recently came to light, that were never approved by the management or the board during his tenure, Dr. Akingbola now believes strongly that all these actions are part of an orchestrated attempt to forcefully take over the bank and not merely a misguided attempt to protect the depositors of the bank

Akingbola wants his safety  guaranteed

“Once again, he would like to reassure Nigerians that he is and has always been prepared to come home, once he is sure of his personal safety and that of his family and confident that no steps will be taken to attempt to implicate him in other crimes as a way of forcing him to withdraw his case in court against the CBN.

‘’His whereabouts are known to the United Kingdom authorities. He is not now or ever been in hiding.”
The statement added: “In the light of continuing but, unfounded damaging allegations being made about my client, it has become necessary to make the following statement:

‘’Dr. Akingbola categorically refutes all the malicious allegations and all the figures quoted as being manipulated and distorted. He regards this misinformation as a deliberate attempt to deceive the public and damage his reputation. He states that he never wrongly took or misappropriated any funds whatsoever.

“All the transactions conducted under his stewardship were legitimate and lawful. It is of paramount public knowledge that Dr. Akingbola had instituted a legal action against the CBN and its Governor over his illegal removal and the suit is on appeal at the instance of the CBN. If there are any allegations against him, these should be left up to an impartial and fair court to decide.

“By resorting to trial in the court of public opinion via the media, his accusers are turning themselves into the complainant, prosecutor and judge. He maintains that this is merely an effort to smear his name, having failed in attempts to fabricate false evidence against him. The on-going campaign of calumny is an effort to justify the illegal and barbaric hijack of the bank, justify his removal and the planned sale of the bank to their special interest groups.

“Once again, he would like to reassure Nigerians that he is and has always been prepared to come home, once he is sure of his personal safety and that of his family and confident that no steps will be taken to attempt to implicate him in other crimes as a way of forcing him to withdraw his case in court against the CBN. His whereabouts are known to the United Kingdom authorities. He is not now or ever been in hiding.

Akingbola flays loan forgiveness

“In his distinguished international banking career of over 39 years, Dr. Akingbola has conducted himself with the utmost regard for the welfare of his customers, investors and staff.

He is deeply disheartened by the untrue allegations being made about him. Following revelations of the “ loan forgiveness” which recently came to light, that were never approved by the management or the board during his tenure, Dr. Akingbola now believes strongly that all these actions are part of an orchestrated attempt to forcefully take over the bank and not merely a misguided attempt to protect the depositors of the bank,” it added.


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