EFCC Is Deceptive, Malicious, Akingbola Tells Court

Date: 13-09-2012 9:54 am (11 years ago) | Author: AYORINDE MAYOWA
- at 13-09-2012 09:54 AM (11 years ago)
(m)
Former Managing Director of defunct Intercontinental Bank Plc, Erastus Akingbola, has told a Lagos High Court in Ikeja that the allegations made by the Economic and Financial Crimes Commission (EFCC) are “false, incorrect and malicious.”
Akingbola, yesterday denied  stealing N47.1 billion from the bank.

Akingbola made this denial while testifying at his ongoing trial before Justice Habeeb Abiru of a Lagos State High Court.

Akingbola  and Bayo Dada, General Manager of Tropics Securities, were charged to court for allegedly stealing the money belonging to the bank.

While being led in evidence by his counsel, Chief Felix Fagbohungbe (SAN), the embattled ex-bank chief  said he never authorised or benefited from any of the transactions for which he was being prosecuted.

He denied allegation that he had, between March and July 2009, transferred £8.5 million and £1.3 million belonging to the bank to Fulgher Solicitors, a United Kingdom-based law firm.

He said the naira equivalent was sourced from Regal Investment Company Ltd, owned by the board chairman of Intercontinental Bank, Dr Raymond Obieri, who granted him a N2.2 billion loan.

Akingbola said that after sourcing the money, he instructed the bank’s head of foreign operations, Mrs Ayoola Ayinde, to go ahead with the transfer.

Posted: at 13-09-2012 09:54 AM (11 years ago) | Upcoming
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