EFCC re-arraigns Akingbola today

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By Abdulwahab  Abdulah

LAGOS—The Economic and Financial Crimes Commission, EFCC will today re-arraign former Managing Director of Intercontinental Bank Plc( now Access Bank Plc), Dr. Erastus Akingbola over allegation of stealing of N47.1bn belonging to Intercontinental bank.

To ensure his appearance in court the anti-graft agency yesterday claimed he was arrested and held at its office in Ikoyi. It saidAkingbola will be docked before Justice Adeniyi Onigbanjo of the Ikeja High Court.

The re-arraignment is sequel to the elevation of former trial judge, Habeeb Abiru of the Ikeja division of the state High Court to the Court of Appeal.

Dr. Erastus Akingbola

Dr. Erastus Akingbola

Akingbola is facing a 29-count charge  alongside one of his aides, Mr. Bayo  Dada.

Part of the former charge preferred against him read,  “That Erastus B.O. Akingbola, whilst being the Managing Director and Chief Executive Officer of Intercontinental Bank Plc sometime in March, 2009, in Lagos, within the jurisdiction of this honourable court stole property of Intercontinental Bank Plc by fraudulently converting same to your own use.

“This is stealing, contrary to Section 390(7) of the Criminal Code Law, Cap 17 Laws of Lagos State 2003.

“That Erastus B.O. Akingbola, whilst being the Managing Director and Chief Executive Officer of Intercontinental Bank Plc sometime in July, 2009, in Lagos, stole £1,300,000:00, property of Intercontinental Bank Plc by fraudulently converting same to your own use.

“Stealing, contrary to Section 390(7) of the Criminal Code Law, Cap 17 Laws of Lagos State.”

Erastus B.O. Akingbola, whilst being the Managing Director and Chief Executive Officer of Intercontinental Bank Plc sometime in March, 2009, in Lagos stole N2,108,135,484:68, property of Intercontinental Bank Plc by fraudulently converting same to the use of Intercontinental Capital Markets Ltd.

“That Erastus B.O. Akingbola, whilst being the Managing Director and Chief Executive Officer of Intercontinental Bank Plc sometime in May, 2009, in Lagos stole N150,000,000.00, property of Intercontinental Bank Plc by fraudulently converting  same to the use of Bankinson (Nig.) Limited a company in which you are also a director.

“Erastus B.O. Akingbola, whilst being the Managing Director and Chief Executive Officer of Intercontinental Bank Plc sometime in May, 2009, in Lagos stole N350,000,000.00, property of Intercontinental Bank Plc by fraudulently converting  same to the use of Tropics Finance Limited, a company in which you are also a director.

“That Akingbola, whilst being the Managing Director and Chief Executive Officer of Intercontinental Bank Plc sometime in May, 2009, in Lagos stole N500,000,000.00, property of Intercontinental Bank Plc by fraudulently converting  same to the use of Tropics Finance Limited, a company in which you are also a director.

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