Embattled former Director of Intercontinental Bank, Erastus Akingbola, was today re-arraigned before a Lagos State High Court on allegations of defrauding the bank, which is now Access Bank, of billions of Naira.
Embattled former Director of Intercontinental Bank, Erastus Akingbola, was today re-arraigned before a Lagos State High Court on allegations of defrauding the bank, which is now Access Bank, of billions of Naira.
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Mr. Akingbola was docked alongside his co-defendant, Bayo Dada, but both men pleaded ‘not guilty’ to the 22 counts of having fraudulently diverted the bank’s funds into personal use.
The Economic and Financial Crimes Commission (EFCC) is seeking accelerated hearing of the matter. In that process today, Mr. Igbokwe, counsel to Mr. Akingbola, complained to the court about the detention of his client by the EFCC yesterday, noting that his client came to the court today from the EFCC’s detention facility. He asked if his client’s bail was no longer enough to protect his freedom.
In response, the EFCC revealed that the rogue banker’s troubles yesterday had nothing to do with the today’s proceedings.
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“I’m informed that he was detained due to an order concerning an attached property at the Federal High Court,” the EFCC counsel said. “It is not in connection with this current proceeding.
“Besides”, added the EFCC counsel, “he has not been detained beyond the constitutionally-recognized period. He was only detained between 4.30pm yesterday and this morning.”
The EFCC counsel also told our correspondent that the bail granted the fraud suspect in one trial is not absolute immunity that he could not be arrested on other allegations in which he might be needed in investigations.
The presiding judge, Justice Adeniyi Onigbanjo dismissed Mr. Igbokwe’s extended complaints.
“That is not matter content to this proceeding since the said detention is not related to this proceeding according to the prosecution, and I will not allow that to eat into my time,” Justice Onigbanjo said.
During his argument, Mr. Igbokwe presented printed online stories on Mr. Akingbola’s detention, including a SaharaReporters’ report from yesterday that was presumed to have been in preparation for his trial this morning.
To allow for accelerated hearing and trial, the court fixed July 10th, 15th, 16th, 17th and 18th, the five earliest contiguous days in the court’s calendar, for trial.
As Mr. Akingbola’s stock continues to plummet, it would be recalled that only a few days ago, anti-corruption students of Adekunle Ajasin University in Ondo State petitioned Governor Olusegun Mimiko to remove Mr. Akingbola from his position as the Pro-Chancellor and Chairman of the Governing Council of their institution.
The Campus Anti-Corruption Crusade (CACC), drew the attention of Mr. Mimiko to the recent decision of the National Judicial Council to sanction Justice Charles Archibong for his controversial ruling which favoured Akingbola, and called on the governor to take the side of the public as the NJC had done.
In the petition, the students said, “We remind the governor that a London court has found Erastus Akingbola guilty of stealing and diverting about N164 billion (or £654 million) of depositors’ funds to buy properties in the United Kingdom and for buying shares for himself in order to manipulate its share price in the stock market.”
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