A former managing director of intercontinental Bank Plc, Mr. Mahmoud Lai Ababi, is currently being quizzed by the anti- graft agency, the Economic and Financial Crimes Commission, EFCC, in connection with the sale of the defunct second generation bank to Access Bank Plc.
Knowledgeable sources informed that Alabi, who responded to an invitation by the commission at about 10am this morning, August 14, is being grilled by a team of operatives assembled to clear the clouds surrounding the controversial transaction.
Erastus Akinbola, founder and pioneer managing director of the bank, who was eased out in the wake of the banking sector reform by former CBN Governor, Sanusi Lamido Sanusi, allegedly petitioned the Commission, claiming the bank was forcefully taken over from him through a web of conspiracy that reeks of fraud and brinkmanship.