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Court bars Akingbola access to Intercontinental Bank

By Omoh Gabriel & Innocent Anaba

LAGOS—A Federal High Court sitting in Lagos, has denied Dr. Erastus Akingbola further access to Intercontinental Bank Plc, by ordering the freezing of his shareholding in the bank as well as in Access Bank.

The court has also ordered the freezing of the former Managing Director and Chief Executive Officer of Intercontinental Bank’s assets on property at Milverton Road, Ikoyi, Lagos; Amazing Grace Plaza, Plot 2e – 4e, Ligali Ayorinde Street, Victoria Island, Lagos; No 2 Bedwell Road, Ikoyi (suspected to be owned directly or indirectly by Dr. Erastus B. O. Akingbola); No. 12 Ruxton Road, Ikoyi (suspected to be directly or indirectly owned by Dr. Erastus B. O. Akingbola); No. 12 Chester Terrace, London, England, NW1 4ND (suspected to be the residence of Dr. Erastus B. O. Akingbola); No. 65 Gove-End Road, London NW8 9NH (suspected to be owned by Dr. Erastus B. O. Akingbloa; No. 8 Connaught Street, London W2 9NH, England (suspected to be owned by Dr. Erastus B. O. Akingbola); Properties in Dubai including units in Regal Towers, Dubai (owned directly or indirectly by Dr. Erastus B. O. Akingbola)

The court made the order, following  an ex-parte application by the Economic and Financial Crime Commission (EFCC).


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