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Akingbola: EFCC faults witness’ claim on £8.5 deal

By ABDULWAHAB ABDULAH, with agency report

IKEJA— Economic and Financial Crimes Commission, EFCC, yesterday, faulted the claims  by Mrs. Ayoola Akande, a defence witness, in the trial of former managing director of defunct Intercontinental Bank Plc, Dr. Erastus Akingbola.

Akande had on Wednesday testified before Justice Habeeb Abiru of an Ikeja High Court, Lagos, that the transactions carried out by Akingbola as managing director of the bank were “regular.”

Akingbola, alongside an associate, Bayo Dada, were charged over alleged stealing of N47.1 billion belonging to defunct Intercontinental Bank (now Access Bank).

EFCC lead prosecutor, Mr. Emmanuel Ukala, SAN, while cross-examining Akande, a former Group Head, International Operations of the bank, described her testimony as “a pack of lies.”

Ukala said the witness’ claim that the transfer of 8.5 million pounds was financed by Regal Investment Company Ltd, contradicted her statement to the commission on December 2, 2009.

He said Akande had admitted in the statement that she transferred the money on March 13, 2009, from Akingbola’s domiciliary account to the account of a UK-based law firm, Fulgher Solicitors.

The witness, in the statement read in court said “the funds were transferred from the domiciliary account of Akingbola and the cover was provided for only after the transfer was made.”


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