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Nairaland Forum / Nairaland / General / Crime / 10 Years On, EFCC Reopens Erastus Akingbola’s Trial (14400 Views)
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10 Years On, EFCC Reopens Erastus Akingbola’s Trial by Christianos: 5:20am On Mar 13, 2019 |
The Economic and Financial Crimes Commission has reopened before the Federal High Court in Lagos, the 10-year fraud trial of a former Managing Director of the defunct Intercontinental Bank Plc, Dr. Erastus Akingbola. The trial, in the charge marked FHC/L/CS/443c/09, reopened on Monday before Justice Mojisola Olatoregun. In the 26 counts filed before the court, the prosecution alleged that while he was MD and Chief Executive Officer of Intercontinental Bank, Akingbola, between November 2007 and July 2008, was involved in reckless approval of credit facilities, without adequate security for a number of firms. The prosecution alleged that for instance, Akingbola recklessly approved a credit facility of N8bn each to Soo-Kok Holding Limited; Tofa General Enterprises; Cinca Nigeria Limited; Harmony Trust and Investment Limited; Stanzus Investment Limited. The EFCC said the illegal transactions were carried out between May 2008 and May 2009 in contravention of “accepted practice or Intercontinental Bank Plc’s regulations.” It said Akingbola violated Section 15(1)(a)(i) of the Failed Banks (Recovery of Debts) and Financial Malpractices in Banks Act, Cap F2, Laws of the Federation of Nigeria, 2004 and was liable to be punished under Section 16(1)(a) of the same Act. In another instance, the prosecution alleged that under Akingbola’s watch as MD/CEO, Intercontinental Bank Plc had N87.6bn non-performing credit burden... Source: https://punchng.com/efcc-reopens-erastus-akingbolas-10-year-trial/amp/ 1 Like |
Re: 10 Years On, EFCC Reopens Erastus Akingbola’s Trial by GOFRONT(m): 6:03am On Mar 13, 2019 |
Wetin he do na? 1 Like |
Re: 10 Years On, EFCC Reopens Erastus Akingbola’s Trial by Mutuwa(m): 6:21am On Mar 13, 2019 |
Ride on Criminals cases, especially this type are not statute barred.When you are happy, you enjoy the music, but when sad you understand the lyrics. 9 Likes |
Re: 10 Years On, EFCC Reopens Erastus Akingbola’s Trial by auditor0471: 6:21am On Mar 13, 2019 |
Let him face the full justice, if found guilty. Justice is never late. Until people are held accountable for their action or inaction this nation will continue to wallow in poverty and shame. 12 Likes 2 Shares |
Re: 10 Years On, EFCC Reopens Erastus Akingbola’s Trial by chloride6: 6:23am On Mar 13, 2019 |
8bn must have been their Single Obligor Limit.. The guy maxed out the loans to these One kind companies. 5 Likes |
Re: 10 Years On, EFCC Reopens Erastus Akingbola’s Trial by yousouphe(m): 6:24am On Mar 13, 2019 |
Oh why the guy do like that nah ? |
Re: 10 Years On, EFCC Reopens Erastus Akingbola’s Trial by ddeola: 6:25am On Mar 13, 2019 |
The case is DOA shikena ! ![]() ![]() ![]() |
Re: 10 Years On, EFCC Reopens Erastus Akingbola’s Trial by helinues: 6:26am On Mar 13, 2019 |
The way the case was handled then . By now they should have been in jail but this is Nigeria. Ceiciila Ibru was forced to relocate to her village cos of shame. 10 Likes 2 Shares |
Re: 10 Years On, EFCC Reopens Erastus Akingbola’s Trial by Iphupa: 6:28am On Mar 13, 2019 |
One of the biggest losers of the 2019 general elections,he would have been granted amnesty if Atiku won.can i hear an atikulated from the yeast side 18 Likes 1 Share |
Re: 10 Years On, EFCC Reopens Erastus Akingbola’s Trial by dahmie2013: 6:30am On Mar 13, 2019 |
It is so sad 2 see dis man suffer alone, after all he made everyone in dat bank enjoy. I remember deir slogan den, "happy customer, happy bank". He was a good boss, he believed in improving d welfare of staff & even drivers were well paid. In as much as I am not pleased with how everything ended, I must confess he wasn't as bad as ppl portray him 2 be. 37 Likes 1 Share |
Re: 10 Years On, EFCC Reopens Erastus Akingbola’s Trial by naijapips04: 6:32am On Mar 13, 2019 |
nice one. little by little the chicken is coming home to roost. I hope Tinubu is ready. I am beginning to love this next level. 2 Likes |
Re: 10 Years On, EFCC Reopens Erastus Akingbola’s Trial by ruffhandu: 6:34am On Mar 13, 2019 |
He just offended someone in APC perhaps, or wants to do something meaning with his life and they just want to keep him subdued. 5 Likes 1 Share |
Re: 10 Years On, EFCC Reopens Erastus Akingbola’s Trial by grandstar(m): 6:35am On Mar 13, 2019 |
And we should be reminded that the exchange rate at that time was $1 = N120 That 8b today would be $66,666,666.00. That's 23b I'm today's money ![]() ![]() Wow 5 Likes 1 Share |
Re: 10 Years On, EFCC Reopens Erastus Akingbola’s Trial by geosuzzy(f): 6:35am On Mar 13, 2019 |
With this case reopened....saraki is the main target.... If u kW u kw 14 Likes 3 Shares |
Re: 10 Years On, EFCC Reopens Erastus Akingbola’s Trial by texazzpete(m): 6:36am On Mar 13, 2019 |
dahmie2013: There's always the one person happy to defend a thief. 15 Likes 1 Share |
Re: 10 Years On, EFCC Reopens Erastus Akingbola’s Trial by Echo50(m): 6:37am On Mar 13, 2019 |
9JA dnt appreciate good men but appreciate the worst men of all facet of life. Does 9ja have a law that govern the people and do they follow the law? |
Re: 10 Years On, EFCC Reopens Erastus Akingbola’s Trial by AfonjaConehead: 6:40am On Mar 13, 2019 |
The north tactically used SLS,who was also a bank.player and knew the banking games, to destroy southern bank topshots and their banks. I remember,these accursed coneheads were the most vocal against the southern bankers then. Shareholders never complained and there weren't signs of the banks going under. 2 Likes 1 Share |
Re: 10 Years On, EFCC Reopens Erastus Akingbola’s Trial by anochuko01(m): 6:40am On Mar 13, 2019 |
question is...where has he been ever since? |
Re: 10 Years On, EFCC Reopens Erastus Akingbola’s Trial by czaratwork: 6:40am On Mar 13, 2019 |
I hope it is because of Saraki they reopened this case. They should leave Akingbola alone o. 2 Likes 2 Shares |
Re: 10 Years On, EFCC Reopens Erastus Akingbola’s Trial by supereagle(m): 6:41am On Mar 13, 2019 |
GMB era no room for corruption. 2 Likes |
Re: 10 Years On, EFCC Reopens Erastus Akingbola’s Trial by Okeyc230: 6:41am On Mar 13, 2019 |
Structural failure akin to Nigerian state |
Re: 10 Years On, EFCC Reopens Erastus Akingbola’s Trial by AfonjaConehead: 6:43am On Mar 13, 2019 |
ruffhandu: He offended nobody,the decision to decimate southern top bankers was taken somewhere in the north among the northern mafias. 5 Likes 1 Share |
Re: 10 Years On, EFCC Reopens Erastus Akingbola’s Trial by Okeyc230: 6:44am On Mar 13, 2019 |
$12.6bn Gulf war oil money. When will the case file be opened? 2 Likes |
Re: 10 Years On, EFCC Reopens Erastus Akingbola’s Trial by princegeo(m): 6:44am On Mar 13, 2019 |
OGA go join APC Case closed next level thins Maybe he support pdp for the last election na 1 Like |
Re: 10 Years On, EFCC Reopens Erastus Akingbola’s Trial by Enniez2018(m): 6:45am On Mar 13, 2019 |
Erastus again, kuku kee the man nah haba 1 Like |
Re: 10 Years On, EFCC Reopens Erastus Akingbola’s Trial by Meritocracy: 6:49am On Mar 13, 2019 |
AfonjaConehead: You should be mature by now, lets face reality and forget ethnicity. 10 Likes 2 Shares |
Re: 10 Years On, EFCC Reopens Erastus Akingbola’s Trial by princeade86(m): 6:54am On Mar 13, 2019 |
Mutuwa:he will soon have hypertension now. That is when he will fall sick and be doing drama 7 Likes 1 Share |
Re: 10 Years On, EFCC Reopens Erastus Akingbola’s Trial by Kishkosh: 6:57am On Mar 13, 2019 |
Mutuwa: Go and read about statute bar. A case that's started a long time ago isn't statute bar. They are not filling a new suit. The caption reads "reopens...." 4 Likes |
Re: 10 Years On, EFCC Reopens Erastus Akingbola’s Trial by greensandy: 6:58am On Mar 13, 2019 |
Good move. |
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