A Federal High Court in Lagos has set a record N500 million bail for disgraced banker and former boss of Intercontinental Bank of Nigeria, Erastus Akingbola over charges of fraud.

The bail amount is the highest for other bankers charged with similar offences by Nigeria’s anti financial crimes agency, Economic and Financial Crimes Commission (EFCC).

Akingbola was fired by Nigeria’s apex bank, Central Bank of Nigeria (CBN) last year along with four other bank chief executives for mismanging their banks and other fraudulent activities.

"I think the bail condition is fair having regards to the facts of the case," Rickey Tarfa, a lawyer for Akingbola told reporters outside the Federal High Court in Ikoyi.

Despite the stiff conditions, Akingbola is expected to make bail. He is personal wealth runs into billions and has two private jets in his name and choice properties running into billions both in and outside of Nigeria.

The banker will remain in EFCC’s custody pending when bail conditions are met.

Its ridiculous

Its ridiculous that he can afford such while ordinary shareholders are being hounded to repay the loans we took to buy shares in his bank.

Money that he stole and can now use to buy his way out of jail.

see mony eeh

i still want to believe that things are not being done properly.big guns like Saraki,Dangote and SLS owed Nigerian some explanation if truth need be told.i cross my hands watching for now

Only in Nigeria you can be rich as quick as from 0 to 300km/s .This is what is wrong with Nigeria not any particular tribe as many here on NL would want to sugest.

500 Million Kobo or what ?

Why on earth will be court charge such huge amount.

Thats means his Guilty is of the charges and he has to refund 1% of the Money he took.

Tell me, why cant the court charge politicians as well,


Na wa oooo

Im sure he will provide the bail. But how fair is this? What was the bail for Ms Ibru? are they comparable? well the fact that Ibru never hotfooted it to the UK will probably count in her favour.

But what about the Politician own?

He worse pass this people own nowww

What is wrong with some people here? Shouldn't they be more concerned that this guy could even afford such an amount for his bail,  instead of criticizing the judge? Had they been bankrupted or directly affected by Akingbola's corrupt practices, I doubt they'll be spewing such craps.

Whether or not some politician were charged less does not change the fact that Akingbola was a thief, and he deserves what he got. We ought to stop sympathizing with thieves, If we are gonna make progress in fighting corruption.

The guy is in money in fact stokkly rich and bastad money so he can the money and of course is our money.

igbo boy:

Chai judge wicked o N500 million gini?

Na so we see am o

If Nigeria can allow Buhari become president, we will see if people like akingbola, dangote etc will not go into Exile.

lets not foget that only 10% of bail charges are actually paid in cash others are properties worth the remaining amount, so this man can actually pay N50 million and get the bail. Oh my country-a place where the rich get richer and always get away with their criminal deeds and the poor get poorer and pay for both their deeds and the rich fools deeds

pappy4real:

a place where the rich get richer and always get away with their criminal deeds and the poor get poorer and pay for both their deeds and the rich fools deeds

True

QUESTION:
who gets the money
f.g or lagos state or judiciary/law enforcement agents.

This shouldn't be a suprise to us, cos' it's nt to me. It's a common phenomenon in Nigeria. It's da thing that encourages every potential/real looters. Imagine me stealing #100 and been asked to pay 5kobo for my bail. It's sadly funny. To d last poster; it's da money which belongs to U & I.

This shouldn't be a suprise to us, cos' it's nt to me. It's a common phenomenon in Nigeria. It's da thing that encourages every potential/real looters. Imagine me stealing #100 and been asked to pay 5kobo for my bail. It's sadly funny. To d last poster; it's da money which belongs to U & I.

dat this man can afford to meet-up with such bail condition should be more source of worry n a confirmation of his guilt. as far as we continue to treat issues of corruption with kid-gloves and sympathy the impossible it becomes for us to alleviate ourselves and country from the economic quagmire we presently find ourselves,

"I think the bail condition is fair having regards to the facts of the case," Rickey Tarfa, a lawyer for Akingbola told reporters outside the Federal High Court in Ikoyi.
Despite the stiff conditions, Akingbola is expected to make bail. He is personal wealth runs into billions and has two private jets in his name and choice properties running into billions both in and outside of Nigeria.

What’s the issue the bail is too much or that the young man can afford it?,

what pains me the most is that he is (or maybe was) a minister in the redeemed christian church of god. he had 2 private jets??!!!!!! my god! was he the owner of the bank or just the manager who should manage people's funds judiciously? well, they have just told him to pay peanuts out of his loaded barns of stolen loot. well. . . . . . . . . . . . . . . just another day in nigeria.

The guy is actually a thief if he can afford to pay that huge for bail, let's see how things go sha

matnxmomah:

dat this man can afford to meet-up with such bail condition should be more source of worry n a confirmation of his guilt. as far as we continue to treat issues of corruption with kid-gloves and sympathy the impossible it becomes for us to alleviate ourselves and country from the economic quagmire we presently find ourselves,

na true my brother

o pity him.

Pornodude:

what pains me the most is that he is (or maybe was) a minister in the redeemed christian church of god. he had 2 private jets??!!!!!! my god! was he the owner of the bank or just the manager who should manage people's funds judiciously? well, they have just told him to pay peanuts out of his loaded barns of stolen loot. well. . . . . . . . . . . . . . . just another day in nigeria.

Even JUDAS Iscariot, one of the 12 disciples was found guilty of Greed, Fraud and Betrayal. Do you then blame JESUS?,  Abeg, let d man & oda 'MOG' dat 'Gee' & still desecrate HIS name,  carry their load!!!

What is wrong with some people here? Shouldn't they be more concerned that this guy could even afford such an amount for his bail, instead of criticizing the judge? Had they been bankrupted or directly affected by Akingbola's corrupt practices, I doubt they'll be spewing such craps.

It is a sad system we run and only GOD can save us

I have no interest in this man, but he who must come to equity must come with clean hands. for the very first time, 1st bank Nig. gave 10k dividend, as well UBA. alot others never declare any dividend or bonus. this shows to some extent that majority of these banks also had problem, only that they were not in bad book of Sanusi. How or when did 1st bank paid such dividend last? can someone justify this ?

Some people here in NL really amuse me, that the thief(Akingbola) paid 500m does not mean he has been exonorated of the corrupt charges leveled against him, but just to be free from police custody, the case goes on. Definitely he will be convicted and must do his term. I dont have pity for anybody that embezzles public funds, yes no pity at all. If you cant do the time, dont do the crime

I want my money back

High_Chief:

Some people here in NL really amuse me, that the thief(Akingbola) paid 500m does not mean he has been exonorated of the corrupt charges leveled against him, but just to be free from police custody, the case goes on. Definitely he will be convicted and must do his term. I dont have pity for anybody that embezzles public funds, yes no pity at all. If you cant do the time, dont do the crime

It's you who is a no brainer! Someone started Bank 21 years ago, grew it to become one of the top 500 banks in the world with assets of over N1.6trillion and was paying 18,000 staff salaries of over N100,000 monthly and you call him a thief because he has N500 million to bail himself.
Poverty mentality!!
The guy is innocent until proven guilty!

i hope your friends come to help you soon. nobody loves the rich.