N5bn fraud: Akingbola has case to answer – Supreme Court

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Former MD of defunct Intercontinental Bank Erastus Akingbola

By Wandoo Sombo

The Supreme Court on Friday ordered, Erastus Akingbola, to return to the Federal High Court, Lagos, to answer his alleged five billion Naira fraud charge.

Akingbola is a former Managing Director of the defunct Intercontinental Bank Plc.

Justice Tanko Muhammad, leading a five-man panel, affirmed the Feb. 20, 2015 judgment of the Court of Appeal in Lagos which overturned the Federal High Court’s decision striking out the charges against Akingbola.

Justice Sidi Bage, who read the lead judgment of the apex court, held that Akingbola’s appeal challenging the Court of Appeal’s judgment lacked merit.

He ordered that the case file be remitted to the Federal High Court, Lagos, for expeditious trial and to be handled by another judge.

Justice Kumai Akaahs, a member of the panel, in addition to agreeing with the lead judgment, said that he was worried by the stand of the trial judge in the matter.

Akaahs…



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