EFCC In Nationwide Manhunt For Former Intercontinental Bank Boss

Published 9 years ago by: Daniel Bosai
at 4-08-2010 02:43PM (9 years ago)

(18087 | Hero) Online (m)

The Economic and Financial Crimes Commission, EFCC, has begun a manhunt for Erastus Akingbola, the former Managing Director of Intercontinental Bank plc who was speculated to have sneaked back into the country, PM NEWS has gathered.





The flamboyant bank chief fled the country after he was removed alongside chief executive officers of Afribank plc, Oceanic International Bank, Union Bank of Nigeria plc by the Central Bank of Nigeria about a year ago.
This followed a special audit ordered by Sanusi Lamido Sanusi, who was then just appointed the Governor of CBN.
The special audit had revealed that the chief executive officers had mismanaged their banks with the financial institutions collectively having about a trillion naira un bad loans in their books as a result of loans advanced to operators in the capital market and petroleum product importers.
The apex bank which doled out over N400 billion to bail out the banks to prevent them from being distressed had ordered the removal of the bank chiefs and their executive directors for mismanagement of the financial institutions.
The apex bank also ordered the trial of the bank chief executives on various fraudulent related charges. But while the other chief executives of the banks have been charged to court and are being prosecuted by the EFCC, Akingbola has been on the run forcing the EFCC to seek court order to seize his property.
However, indications are that the deposed chief executives of Intercontinental Bank may have returned to the country.
An unnamed assistant of the former boss of Intercontinental Bank was said to have confirmed the return of his boss to the country and his readiness to answer any charges against him. But the EFCC said the former bank chief executive is yet to report to the Commission.
Femi Babafemi, spokesperson for the anti graft agency however told PM NEWS that a manhunt is on for the former boss of Intercontinental Bank.
According to him, Farida Waziri, EFCC Chairman has already put operatives of the Commission across the country on the alert following rumours of Akingbola’s return to the country.
He added that the EFCC Chairman has also set up two teams, one each in Abuja and Lagos to smoke out the former ban chief from wherever he may be hiding.



cadanre at 4-08-2010 04:40PM (9 years ago)
(9186 | Hero) (f)

All those responsible for the Nigeria economic/bank problems should be brought to book. All those who loot should also not be left off the hook.

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popo2009 at 4-08-2010 04:49PM (9 years ago)
(1197 | Gistmaniac) (m)

EFCC is a bunch of cowards and  politically-driven bastards
they only make noise when the concerned person is out of power
and by then the person must have spent almost all the money abroad.
after they will say bla bla bla.......rubbish
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mykelly at 4-08-2010 05:29PM (9 years ago)
(1123 | Gistmaniac) (m)

go and face trials,Erastus.you cant run away from it...
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mat-James at 4-08-2010 06:12PM (9 years ago)
(965 | Upcoming) (m)

he did well 4 coming back to 9ja, unlike Ibori,
but he should go to the authorities
and clear himself, and be a honourable gentleman
Reply
chudy1800 at 4-08-2010 09:21PM (9 years ago)
(471 | Upcoming) (m)

Efcc is a group of noises makers,na today...
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kurupt419 at 4-08-2010 09:32PM (9 years ago)
(2279 | Gistmaniac) (m)

wot of OBJ and IBB?Huh?Huh?
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chudy1800 at 5-08-2010 07:25PM (9 years ago)
(471 | Upcoming) (m)

No mind them useless ppl.
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mat-James at 5-08-2010 08:22PM (9 years ago)
(965 | Upcoming) (m)

we gonna share the loots with some lawyers
and big guys in the society,
even if we are returning that money
only small na im we go bring out
the remain one we go spend after the case
THIS CASE WILL NOT HOLD WATERS AT THE END
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negalways2001 at 8-08-2010 09:12AM (9 years ago)
(186 | Upcoming) (m)

ALL OF THEM GO THEY GET DISGRACE ONE AFTER THE OTHER.
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xter at 8-08-2010 12:01PM (9 years ago)
(26025 | Addicted Hero) (m)

90% of u slamming dis man would do d same if u were in his shoes

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mezkaz18 at 8-08-2010 01:04PM (9 years ago)
(718 | Upcoming) (m)

Quote from: negalways2001 on  8-08-2010 09:12AM
ALL OF THEM GO THEY GET DISGRACE ONE AFTER THE OTHER.
SHE FIT BETTER PASS U SEF. NAIJA MAN NA D SAME EVERYWHERE
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lewis123 at 9-08-2010 02:52AM (9 years ago)
(44 | Newbie) (m)

EFCC and all th governmental bodies are criminals ..e be like say erastus nor fit pay money wey dem bill am..lol
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silviabells at 10-08-2010 03:26PM (9 years ago)
(924 | Upcoming) (f)

passing
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ngfineface at 3-09-2015 04:46PM (4 years ago)
(8976 | Hero) (f)

What of OBJ and others?
Reply