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)

(7128 | 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. Boi2Man on: Pastor's Wife Bagged Three Years Term For Inflating JAMB Form Fee In Nasarawa
    Good for them and even better for the country is that corrupt politicians and officials should be pr... 3 hrs ago
  2. Boi2Man on: “We Will Now Be Harder On Them’’ -Pre. Buhari Opens Up On Attack By Boko Haram & Bandits
    [quote author=module link=topic=451870.msg5613247#msg5613247 date=1580241634]Are u just waking up fr... 3 hrs ago
  3. Boi2Man on: LMAO: How Nigerian Man Runs For His Life After Seeing A Bride Price List Given To Him
    Yeah, I agree it’s fake!... 3 hrs ago
  4. Boi2Man on: Billionaire, Ned Nwoko Gives His Wife, Regina Daniel & Her 2 Friends A Ride In His Rolls Royce
    And he is even contributing to the decadence of the society. Old man you are corrupting the young gi... 3 hrs ago
  5. Boi2Man on: I'm Seriously In Search Of New Daddy That Can Handle Me - Bobrisky Max Reveals
    Soooo ugly,  institute of wowology ... 3 hrs ago