Nigeria Access Bank wins $1 billion case against ex-chief

Published 7 years ago by: Tony Ladipo
at 02:29 AM, 2/08/2012 (7 years ago)

(7210 | Gistmaniac) (m)

UK court Orders Erastus Akingbola to Pay Access Bank N164 Billion Stolen Money

………….. I am disappointed with judgment of UK court; I am innocent – Akingbola

Information Nigeria
August 1, 2012.

In a twist of events that stinks of the Ibori case, former Managing Director of defunct Intercontinental Bank Plc (now Access Bank Plc), Mr. Erastus Akingbola has been ordered by a High Court of Justice, Queen’s Bench Division, in London, to pay Access Bank Plc £654 million  (about N164 billion) for some sharp and fraudulent practices committed when he was in charge of the bank. The money, it was revealed, had been stolen directly from the bank during his tenure; and it had been used to buy property in the United Kingdom and pay debts owed by Akingbola’s companies, among other uses. However, of this amount, it was said that Akingbola had already refunded the sum of £9 million to Access Bank.

Akingbola and some of his trust companies had been dragged to court in December 2009 by the defunct Intercontinental Bank, and upon the acquisition of Intercontinental Bank by Access Bank, Intercontinental Bank was substituted with Access Bank as the plaintiff in the matter.The judgment delivered Tuesday by Justice Michael Burton, ruling that Akingbola was liable to refund the money to Access Bank. Consequently, the judge ruled in Access Bank’s favour on all of its claims against Akingbola.
Back in Nigeria, cases against Akingbola by the EFCC had been thrown out of court in the past due to inappropriate filing..

Ladies and gentlemen we’ve got to do something… this money is just too much one person

Problem with this article? Please contact us

kojis60 at 04:36 AM, 2/08/2012 (7 years ago)
(47 | Newbie) (m)

Ur name na innocent,abeg give them d money idiot u wan eat alone


  1. Baye77 on: SUICIDE BLAST! At Least 63 Dead, 182 Injured After Bomb At Wedding In Kabul
    May God have mercy on the dead and heal the injured ... 1 hr ago
  2. Baye77 on: HORROR! Scores Feared Dead, Many Injured As Violent Clash Broke Out Between Hausa & Yoruba
    Violence will help nobody...let peace rein..... 1 hr ago
  3. Baye77 on: BBNaija 2019: Mercy Raises Her Ankara Crop Top To Flaunt Her Black Pant On Dance Floor (Photo)
    Wait, poster, wetin concern Mercy Johnson for this post??... 1 hr ago
  4. philipnice on: Man Runs Mad After Refusing To Use Mom For Money Rituals; His Manhood Also Rejected (Photos & Vi
    na so edo and asaba boys dey take get money... 1 hr ago
  5. Baye77 on: #BBNaija2019! Frodd Caught Trying To Force Himself On Esther Will He End The Race Like Kemen?
    ::) ::)... 1 hr ago