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Bail: Ibru, Adigwe, Ebong know fate today

*I’m not on the run, says Akingbola

By  Innocent Anaba

LAGOS – A Federal High Court, Lagos, will today rule on the bail applications of Mrs Cecilia Ibru, former Managing Director and Chief Executive Officer of Oceanic Bank Plc; her counterparts in Afribank Plc and Union Bank of Nigeria Plc-Mr. Sebastian Adigwe   and Mr. Bartholomew Ebong respectively.

The trio are presently standing trial before the court on five separate charges of 131 counts, bordering on fraud, concealment and grant of loans without adequate collateral, running into N625.95 billion.

Also, the court will tomorrow rule on the bail applications of  FinBank Nigeria Plc, Mr Okey Nwosu and Intercontinental Bank Plc non-executive members,  Dr. Raymond Obieri, Mr. Hycinth Enuha, Christopher Alabi, Chief Samuel Adegbite, Alhaji Isyaku Umar, Mr. Bayo Dada and Elder Sanni Adams.

Mr Henry Onyemem and Niyi Opeodu, directors of Union Bank are standing trial alongside Ebong, while Mr Peter Ololo, a bank debtor, is standing trial alongside Adigwe.

Meanwhile, former Managing Director of Intercontinental Bank Plc, Dr.  Erastus Akingbola, who is currently in the United Kingdom, has said that he was not evading arrest by law enforcement agencies in the Nigeria nor was he on the run.

A statement by his Media Assistant, Mr Suleiman Adefajo, said: “we wish to make clear, in light of escalating press speculation, that Dr Akingbola is most emphatically not evading arrest by the law enforcement agencies in Nigeria or ‘on the run’.

He is not guilty of any wrong doing but appears targeted for persecution and for character besmirchment. He is currently in the UK. Our client believes that the prime objective of detaining all those arrested is to prevent them from presenting their side of the story.

“All persons should be presumed innocent until proved guilty by a court of law. As soon as it was alleged that he was evading arrest, Dr. Akingbola notified the UK authorities of his whereabouts and provided full contact details through his legal representatives,” he added.


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