A Federal High Court in Lagos on Thursday froze N346bn and £11m in six Nigerian banks allegedly belonging to the former Chief Executive Officer of Intercontinental Bank Plc, Mr. Erastus Akingbola.

Justice Tijani Abubakar also placed an interim forfeiture order on Akingbola‘s alleged assets and choice properties in Lagos, the United Kingdom, Dubai and Accra, Ghana.

The six banks in which the said amount was domiciled and frozen include Intercontinental Bank Plc (including accounts with numbers 0001200000029420, 0001210000005334, 0111-001-000352735 and 0111001000-352745); Access Bank Plc; Zenith Bank Plc; Skye Bank Plc; Fidelity Bank Plc (including account with number 027-4020-1003714); and Intercontinental Bank (UK) Limited.

The judge also granted the application of the Economic and Financial Crimes Commission for Mareva Injection to temporarily freeze Akingbola‘s assets all over the world.

But the judge granted a reprieve to the embattled former bank MD who is said to be in England, saying that he should be allowed access to N1. 4m per month as living expenses and retention of legal advisers being equivalent to his lost take- home pay as the CEO of the bank.

The judge also ordered that the interim order would be in force, pending the trial of the ex-bank chief.

He added that the court order should be served on Akingbola through a courier service, DHL, at his known residence at No 26, Chester Terrace, London, England NW14ND.

The EFCC had filed three ex-parte applications in which the anti-graft agency urged the court to freeze the bank accounts and forfeit the assets of the ex-bank chief.

It also alleged that it had filed a 28-count charge against Akingbola while its lawyer, Dr. Konyinsola Ajayi (SAN), argued the application on Thursday.

Ajayi told the judge that his client had applied for interim forfeiture of assets worth N346bn, saying that the allegations against the ex-CEO were weighty.

The EFCC had claimed that its investigation revealed that Akingbola had allegedly perpetrated serious economic and financial crimes including money laundering, theft, capital market manipulation, tax fraud, obtaining money through false pretences, criminal granting of loans and facilities, insider abuse, insider trading and abuse of office.

It added that further investigation of the amount involved was N346bn and 11 pounds sterling, saying that Akingbola absconded and had been declared wanted.

The agency also alleged that Akingbola and his associates were trying to remove assets from Nigeria, adding that he had attempted to move N2bn out of the country after he was declared wanted.

Ajayi also told the court that Akingbola moved 10million pound sterling out of Nigeria.

Justice Abubakar subsequently ordered the seizures.

The schedule of the seized properties include: property at Milverton Road, Ikoyi, Lagos; Amazing Grace Plaza, Ligali Ayorinde Street, Victoria Island, Lagos; No. 2, Bedwell Road, Ikoyi; No. 26 Chester Terrace, London, England, NW1 4ND; No. 65 Gove-End Road, London NW8 9NH, England, No. 8 Connaught Street, London W2 2AH, England; properties in Accra, and Dubai (suspected to be owned directly or indirectly by Dr. Erastus B.O. Akingbola).

The court also seized his shares in 11 companies, as well as a number of luxury cars.



http://www.punchng.com/Articl.aspx?theartic=Art2010010154962

pastor akingbola

This is amazing.
How can a salary of N1.4million per month fetch one all these choice, posh properties around the world with a whopping N346billion and 11million pounds in several accounts.
OMG!!!
Now, Im really really afraid of pastors who are CEOs in any public /private establishment.

Could it be that he also stole some from his RCCG parish.

Time will tell.

wow !!1 Ole

and i even thought Celia fatface ibru, Bode ole george, were bad this guy has taken it to another level . . . .

Yeah! This is how they play the corporate boardroom game that Sefago flaunts all over the place. Where is Sefago when it matters most?

Yeah! This is how they play the corporate boardroom game that Sefago flaunts all over the place. Where is Sefago when it matters most?

Dont hate the players, hate the game

Hahahaha!

Blood of Jesus!

May God forgive all those who see Sanusi as the genesis of our current bank problem; the present revelation is enough to tell us who are to blame, definitely not this man who have demonstrated an uncommon courage.

Onos55:

Blood of Jesus!

What has that statement got to do with looting funds?

Yoruba thieves . . .

This is part of my share money (30,000 shares) now made worthless by incompetence and thievery
Koni da fun Akingbola pelu family

I have 400,000 shares (worth about 8 Million Naira) when I bought them. They are now almost worthless. PASTOR AKINGBOLA!!!!!! OLE!!!!!!!!!!!!!!!!!!!!!!!!!!!

I have also about 2 MILLION Naira now worthless in Oceanic Bank. I hope Pastor Akingbola and Madam Cecilia Ibru will be made refund all the money they looted to the last kobo. Kudos to Sanusi for exposing their smelly "yansh"

^^^^^^
I was smart enough to spread my shares among 10 banks. I am only affected in Bank PHB (60,000 shares) and this one

Mekusxyz, you are a very smart investor. I never imagined Oceanic Bank ex-MD (Cecilia Ibru) could be a fraud. Oceanic Bank was getting many awards. Adegbola was a Pastor!!!!!!. I thought I was investing safely. If these people had committed these frauds in China, they will surely be executed.

^^^^^^
Nigerian pastors are rogues, all of them with no exception. Look beyond face value. As for Ibru, I am lost for words, coming from a renoun family.

When I praise Sanusi people don't understand. Without his intervention things would have been really really bad.

Personally, once someone tells me he/she is a born again I dust my shoes and take off.

Afam:

When I praise Sanusi people don't understand. Without his intervention things would have been really really bad.

Personally, once someone tells me he/she is a born again I dust my shoes and take off.

Yeah, once a person bring religious, ethnics or family sentiments into business, its time to STOP and re evaluate your stand. lol

Physicist:

I have 400,000 shares (worth about 8 Million Naira) when I bought them. They are now almost worthless. PASTOR AKINGBOLA!!!!!! OLE!!!!!!!!!!!!!!!!!!!!!!!!!!!

When ICB dropped to N27 from N44 its was this same Akinbola that was shouting all over the place that people should stop selling that thing would soon turn to better, not knowing that he had paid himself up,
Yet some people go about shouting Vanguard Newspaper insinuated Northern Agenda.

N346 billiön! Wat da hell!

Afam:

When I praise Sanusi people don't understand. Without his intervention things would have been really really bad.

Personally, once someone tells me he/she is a born again I dust my shoes and take off.

i also give kudos to this guy for standing up to do his job.

kkkossy:

N346 billiön! Wat da hell!

peoples money

My God enough monies to repay all who lost money - Wetin one man wan do with 346 billion - Same man that is almost 60 years most possible another 10 or 15 years before the guy quench - na wa

Akingbola should be brought to full justice. . .
They shouldnt just stop at forfeiting his properties or freezing his bank accounts. . . .
Most of the over religious ones are the ones ruining this world. . . .

I KNOW MR SANUSI IS DOING A GREAT JOB , CAN SOMEONE TELL ME IF SENTIMENTAL HAVE NOT BEING FLOURISHING IN HIS OFFICE AND IN GENERAL OF FIGHTING CORRUPTION IN NIGERIA . PLEASE SINCE WE HAVE BEING FIGHTING THIS CORRUPTION HAVE THEY INDICTED ANY NORTHERNER OR IS IT ONLY SOUTHERNS ARE CORRUPT IN THIS COUNTRY?

I remember a time not too long ago when Sanusi was said to be a fool destroying the Nigerian banking system. . . now you goats are singing another tune. You like bad news

See cash.

What about his foreign account,cant it be frozen too?

My God is not a God of poverty! What has Daddy Adeboye got to say about one of his beloved pastors.

Haba, all these from one man?

http://erastusakingbola.com/


THIS GUY IS A CRIMINAL!!!!!!!!!!!!! WOLVES IN SHEEP SKIN!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Sanusi is a terrorist
Sanusi is a tribalist
Sanusi is pursuing a nother agenda
Sanusi wants to implement shariah
Sanusi wants to sell the banks to islamic bank

Honestly Nigerians are the most ungrateful bunch of people on earth, we are myopic in thinking , blinded by our religious affliation, brain blocked by our tribal allegiances and intellectually enslaved by our own parochial mind.

How on earth could this fool steal peoples money and he claims to be a pastor, Cecilia steals as well and she sits in the first rows.

Sanusi says they desrve to be shot and some people say he his crazy for that statement, now tell me what should shareholders do some of which have complained on this thread.