Probably for the Super Bowl 🏈 game.

finallybusy:
My question is, what he was going to Vegas for? It was either to watch the UFC live, Bleep hookers or gamble away huge made-in-Nigeria sums of money.

BewareOf419:



https://dailypost.ng/2024/02/11/wigwe-us-authorities-give-reason-helicopter-crashed/

Helicopter 🚁 that is not well equipped why na.Corruption everywhere

franchasofficia:
Only a military helicopter on a special mission during war and for reconnaissance mission should fly under such weather condition.


I keep wondering what made Dr Wigwe agreed to embark on such deadly trip with his wife and kids, people really get mind; it's not advisable for husband, wife and kids to travel by air on same jet or helicopter, please friends learn from this. Always travel separately as a family, especially by air.


If my wealth gets to the net worth of Wigwe, I will stop traveling outside the country I live permanently, and if I must travel, it will be once in two or three years.


I still wonder the joy people derive in traveling around the world and even the nation, worst of via air transport. I derive joy in staying one place and moving around the city in a car, anything that involves flying or traveling long distance always make me sick, RIP brother, your death really hurt me, I pray Emeka doesn't squander your hard earned wealth

.

For these for death that will still come. Stray bullets kill people even in their bedroom. What about heart attack..if any man knows when death will come he will plan for it. Make we just pray for long life.

Inspirer1:

It's a pity, I wish he had someone like a PA who'll always take care of such for him considering that his status requires frequent flying, so sad

He had. His PA was to fly with them on the same helicopter that same night but the PA insisted he was not going by air, seeing the weather.

For safety reasons and risk reduction, I know some companies in Nigeria that do not allow more than 2 member of its key staff to travel together in the same means of transportation at a time.
It’s on their operational policies. It is good that both small, medium and big companies adopt this to avoid loss of key staff.

Families at home too can adopt this method.

drsibz66:
.

For these for death that will still come. Stray bullets kill people even in their bedroom. What about heart attack..if any man knows when death will come he will plan for it. Make we just pray for long life.

Safety precautions have helped to improve human life.


Scientific innovations in medicine and tech have helped in reducing human mortality and made man to live longer.


We as humans can take certain safety measures that will improve or help prolong our lives by helping us escape or avert certain life dangers

franchasofficia:
continue with your statistics lolz


If I had the option, I will never travel by air, especially helicopter, that thing is a flying coffin waiting to send people to meet their ancestors

I just told you what the numbers say, Oga.
As an individual who has to fly intercontinental all year round, what are my choices?.
I hate planes more than you do. My stomach starts to churn as soon as those things leave the runway, but it is what it is.
If you have to travel within Nigeria, what do you think is safer considering the death traps we call roads, our idiotic and devilish drivers, armed robbery on our roads, the menace of the Nigerian Armed Forces and kidnapping?.

Helicopter wey big man no go fly for naija na him e go enter because na America d chopper de.

Sad one

Blessedarethepe:

14m to less than 350k........are you for real?
Pls which companies shares did you buy then

More than 20 different companies. If I check house, I will get my login details to my Stocks Application. All the money invested in AIT is gone because the company delisted itself from the Stock Exchange. Several other companies top delisted themselves while the promoters of the companies are still living larger than drug Lords.

It is only Red Star Express that made up about 90% of that about 350,000

Keegan:


This is what we should try and look into. How can we correct all this or shey na like this we go dey lament?!

Nigeria is an unworkable experiment.
She was founded on lies and deceits and administered with same. Several parallel entities were lumped together purposely to make it unworkable.

WorldRichest:


Yes, I am disturbed by my friends who lost their jobs in Intercontinental Bank when the gang of thieves whom Ogun go soon kee all of them illegally stole the bank from the owners.

Have you forgotten that Sanusi Lamido Sanusi who was used for the illegality has been disgraced and humiliated twice ?

What about Bukola Saraki that was the thief that initiated the evil plan? He is fighting to keep his ancestral home from being pulled down in the state that he and his family once lord over.

Several others involved in that Intercontinental Bank illegality will pay dearly

I remember the Intercontinental Bank saga. It was prophesied, several months in advance, that a group was planning to take over five major banks. The report listed the banks to be taken over and the actors involved in the takeover.
The takeover played out before our eyes in the most ostentatious circumstances. Access bank , a smaller bank both in market share and capitalization, swallowed a giant; Intercontinental Bank.

It was the greatest of scams using government cover and protection. They still hounded Erastus Akingbola for trying to fight.

I don't know about Karma because many alive did worse things and ain't dead yet, but I know with his death, I remember the fraud that benefited him and his cronies.

drkrest:
Are you talking about the same Akingbola that was indicted for pilfering billions of naira. It is infallible that sentiments becloud logic.

I am.not interested in Erastus Akingbola, but in the thousands of staff sacked.

Meanwhile, do you know anyone that went to Intercontinental Bank, or Oceanic Bank, or Bank PhD and didn't get the money he deposited there?

The Bank Chiefs were stealing the profits the Bank were making, and not people's money. That itself is criminal. But one criminal should not be catching another criminal.

Access Bank was owing Intercontinental Bank over 14 Billion Naira, Bukola Saraki too was owing Intercontinental Bank some Billions, that was why the two criminal groups colluded with the cursed pedophille Sanusi Lamido Sanusi to illegally take over Intercontinental Bank.

The case is still in court till date

WorldRichest:


The other idiot that died with them Abimbola Ogunbadejo is a former Group Chairman of Nigeria Exchange Group Plc, that is where the greatest frauds happen everyday. People that bought shares using millions some years back, the sharks are now worth few thousands because of manipulation of shares prices by the criminals.

My personal over 14 million Naira investment in Shares between 2004 and 2012, this is money I starved myself to invest over the years. The last time I check, it was worth less than 350,000 Naira. That is money I should have used to drink, smoke, club, and carry Olosho, but I thought that I was wise, so I invested it in Shares, and evil men in high places looted my money. They will never escape miserable deaths

Interesting at the bolded if true.

NIGERIA and corruption, yet some people come to deceive Nigerians that Nigeria will be better while doing little or nothing to brutalize corruption.

What kind of helicopter is that, my position is that who advised him or recommended that a person in that calibre could fly on that toy helicopter? I'm honestly devastated, why are thry using that kind of chopper for commercial flight?

tishbite43:
Na yeye helicopter big man like am enter sef
Yuck

Truth234:


Once it is in the Western nations, they assume it must be perfect. Meanwhile, his aide refused to board the same helicopter, citing bad weather and the fact that it was late.

Wow
That tells us a lot

bluefilm:


What made him a big man?

Is he the owner of Access bank or is he just an employee of the bank?

Peter Obi that takes economy flight, is he a small man in your mind?

Read what you typed again
Money and preferences are different
The so-called 'St. Obi' flys private

hilaryCU:
What made you say so? If it is because, it didn't have voice recorder, then you are wrong.

I'm an aircraft technician so I know what I'm talking about
If a chopper don't have such equipment, I really wonder how its avionics components would look like

WorldRichest:


More than 20 different companies. If I check house, I will get my login details to my Stocks Application. All the money invested in AIT is gone because the company delisted itself from the Stock Exchange. Several other companies top delisted themselves while the promoters of the companies are still living larger than drug Lords.

It is only Red Star Express that made up about 90% of that about 350,000

You invested foolishly in useless companies. Learn your lessons and move on.

My own question is who booked the helicopter flight for Wigwe....did he book it himself or was it someone that arranged the flight for him. ?

Truth234:


Once it is in the Western nations, they assume it must be perfect. Meanwhile, his aide refused to board the same helicopter, citing bad weather and the fact that it was late.

You have any source for the aide refusing to board the helicopter?

delzbaba:
Just drive or use a plane guys, helicopters are 50/50

If there is no runaway ,plaane won't work or orivate jet. Helicopter can land anywhere in the work be ; stadium or very spacious compound of house but plane ....

WorldRichest:


Yes, I am disturbed by my friends who lost their jobs in Intercontinental Bank when the gang of thieves whom Ogun go soon kee all of them illegally stole the bank from the owners.

Have you forgotten that Sanusi Lamido Sanusi who was used for the illegality has been disgraced and humiliated twice ?

What about Bukola Saraki that was the thief that initiated the evil plan? He is fighting to keep his ancestral home from being pulled down in the state that he and his family once lord over.

Several others involved in that Intercontinental Bank illegality will pay dearly

did your friend were owe salary or tyey plan to die in intercontinental bank? Every employee knows that one day sack letter might come and the owner of inter Continental bank owe that time, so govt force him to liquidate his bank since owner can't come up with money. So calm down and tell your friends to always prepare for sack letter the day they are employed unless it's their personal company

WorldRichest:
E no concern us.

You can go and tell Erastus Akingbola whose bank Intercontinental Bank was illegally and forcefully stolen by Wigwe, his boss Aigboje Aig, Bukola Saraki, Sanusi Lamido Sanusi, and also the thousands of bankers that were sacked for no offense but

I am interested in this piece, please do u have the link

[color=#000099][/color]

blacknp:
It seems that you are disturbed by forces?

Contrary to his public image as a no-nonsense Governor of the Central Bank and a reformer who always pride himself as an anti-special interest, Sanusi Lamido Sanusi’s complicity in the questionable acquisition of Intercontinental Bank by Access bank and the God-Father role of Dr, Bukola Saraki showed the true Sanusi Lamido Sanusi. Oluwaseyi Oduyela reports, how the former Governor of Central Bank- Sanusi Lamido and Dr, Bukola Saraki masterminded the biggest bank fraud in Nigeria’s Banking Industry history.

By Seyi Oduyela/Washington, DC

In 2009 when Mr. Chukwuma Soludo’s appointment was due for renewal as the Governor of Central Bank, late President Yar’Adua was misled by the cabal that eventually hijacked his government into refusing Mr. Soludo’s a second term and instead, appointed Sanusi Lamido as Soludo’s successor. Prior to his appointment as the Governor of Central Bank of Nigeria (CBN) Soludo had joined the government of former president Obasanjo in 2003 and served as the Chief Economic Adviser and Chief Executive of the National Planning Commission of Nigeria .

So in June 2009, Sanusi Lamido became Governor of Central Bank. Barely two weeks in office, in an unusual move, Lamido dispatched Central Bank of Nigeria examiners to five banks- AfriBank, FinBank, Intercontinental Bank, Oceanic Bank and Union Bank. A CBN source disclosed to Africa Inquirer that the inclusion of Intercontinental Bank was a surprise because the CBN just concluded a comprehensive examination of the bank and gave it a clean bill. In a surprise twist of event, CBN examiners changed their positive report on Intercontinental Bank to “non-performing.” Our source at the CBN disclosed that Mallam Lamido rejected the favorable report presented to him, hence the re-classification of the report from “performing to non-performing.” As at this time, Intercontinental Bank was one of the biggest and the largest bank with a balance sheet size of about N1.7 Trillion.

Our investigation reveal that, late Yar’Adua refusal to renew Soludo’s appointment was actually influenced by Dr. Bukola Saraki using is political weight as the then Chairman Governor’s forum. It was “Saraki who pressed for the replacement of Soludo with Lamido,” our source disclosed. Why would Saraki want Lamido? What is Saraki’s interest in Lamido and what connects the two men? Africa Inquirer diggings reveal that Mallam Lamido and Bukola Saraki have been childhood friends. The two went to same High School, King’s College Lagos with their mutual lawyer, Kola Awodein. While Lamido graduated in 1977, Bukola Saraki left King’s College in 1978. Besides being school mates, Saraki and Lamido are Akingbola’s mutual enemies by their own creation. Before the emergence of Sanusi Lamido as the Governor of CBN, Dr. Bukola Saraki had taken a loan from Intercontinental Bank to the tune of N11Billion.

Our investigations reveal that through Joy Petroleum, as a parent company, Saraki used four other companies namely: Skyview Properties Ltd, Limkers Ltd, Dicetrade Ltd, Carlisle Properties and Investment Ltd, while Dr. Bukola Saraki was portrayed by the bank documents as the Prime Promoter of all the companies including Joy Petroleum Ltd. Under Erastus Akingbola, Saraki secured the 11 Billion Naira loan with four houses in Ikoyi and in Abuja. The houses are on 19 Ruxton road, Ikoyi; 15A MacDonald Road, Ikoyi; 17 MacDonald Road,Ikoyi and Plot 2481 Cadastral Zone A06 Maitama, Abuja.

AigSanusi andWigwe

As soon as Lamido became the CBN governor, and with the doctored report of ‘non-performance” of Intercontinental Bank which was never released to the public till date, Lamido fired the CEOs of the five banks, including Akingbola and appointed acting Managing Directors. Mr. Lai Mahmoud Alabi, a former staff of Bukola Saraki was appointed by Lamido as the Acting MD of Intercontinental Bank. Lai Alabi served as Bukola Saraki’s Chairman of Songa Farms and several development funds in Kwara State.

Lai Alabi’s first task as the new head of Intercontinental Bank was to summon the board of directors to write off N 8.1 Billion out of the N11 Billion owed by Saraki and which were surprisingly, well collateralize with choice assets in Ikoyi, this write-off was strongly condemned by the CBN examination report of May 2010 which complained about the massive loan forgiveness, calling it “cash gift.” The examiners also questioned the rationale behind the return of the collaterals to Saraki. Yet, Mr Lamido never acted since he was only satisfying his benefactor.

Curiously, before Lamido’s takeover of Intercontinental bank, the bank’s inter-bank takings was N73 Billion, with no record of the bank’s indebtedness to the CBN but by the time the bank was sold, it was owing the CBN N100 Billion and other banks N300 Billion. Contrary to Lamido’s claim that he injected N100 Billion to revive Intercontinental bank, the bank’s balance sheet as the time of takeover was N1.6 Trillion. The bank had 330 branches, 2 foreign subsidiaries, 12,000 employees and paid-up capital of N230 Billion.

If the takeover of Intercontinental bank and the replacement of its employees by former employees of defunct Societe Generale Bank were not surprising enough, the sale of the bank to Access was the most fraudulent in Nigeria’s banking industry history.

In 2011, Aig Imokhuede, founder of Access Bank and a debtor of Intercontinental Bank began talks with the Sanusi Lamido-led Central Bank of Nigeria to acquire Intercontinental Bank Plc. Further to the approval of the shareholders of Intercontinental bank and Access Bank, court sanction of the Federal High Court of Nigeria and approval of the Central Bank of Nigeria and the Securities & Exchange Commission, Access Bank Plc (“Access”) and Intercontinental Bank Plc (“Intercontinental Bank”) announced the completion of the recapitalization of Intercontinental Bank and the acquisition of 75% majority interest in Intercontinental Bank by Access Bank Plc.

In effect, Intercontinental Bank (including all its assets, liabilities and undertakings) became a subsidiary of Access Bank Plc. Aluko & Oyebode acted as Transaction Counsel to Access Bank Plc in connection with its acquisition of Intercontinental Bank Plc. The question is how did Aig Imokhuede and Herbet Wigwe acquired Intercontinental Bank?

Africa Inquirer obtained a loan document showing how Aig Imokhuede and his partner Herbert Wigwe (current MD Access Bank) used a company called United Alliance Company of Nigeria to borrow over N16 billion from Intercontinental Bank under Akingbola. The duo tactically delayed payment of the loan. Aig wrote to Mr Lai Alabi twice rescheduling the payment of the loan which were allegedly written off by the CBN before the forced controversial acquisition of the bank by Access.

Our investigation later discovered that, the delay tactics was part of the plan of Saraki and Lamido to sell Intercontinental Bank to Aig Imokhuede who took loan from Akingbola’s bank to acquire Access Bank. Lamido’s CBN used AMCON to deplete Intercontinental bank’s assets before selling it to Access bank. Since Access bank is owing Intercontinental Bank N16 Billion, where did it get the N50 Billion to purchase Intercontinental Bank? Africa Inquirer discovered that Aig Imokhuede, sourced for the N50 Billion from Bank of Industry.

Evelyn Oputu, Former CEO, Bank of Industry

Evelyn Oputu, Former CEO, Bank of Industry

As at this time, the Managing Director of Bank of Industry was Mrs. Evelyn Oputu, Aig Imokhuede’s mother-in-law. With impunity, under the supervision of Malam Lamido as the CBN Governor, N50 billion was paid to Intercontinental bank account in the evening, and immediately after the acquisition of Intercontinental Bank was announced, Aig Imokhuede, transferred the N50 Billion back to the Bank of Industry. By implication, Aig and his group paid nothing for Intercontinental Bank. Mrs. Oputu is being investigated by the Financial Reporting Council for alleged fraudulent practices as the Managing Director of the Bank of Industry.

Source:
http://yemojanewsng.com/revealed-how-access-bank-fraudulently-took-over-intercontinental-bank-the-bukola-saraki-lamido-sanusi-script/

gidgiddy:
Terrible

He did not live to see the opening of the private University he was building in his home town, Wigwe University

God know the best. all these riches people suppose get confirmed prophet by their side or real Alfa and must be pleasing God by helping thr poor because if you take care of prophect only but not orphans or poor. God might not reveal anything to prophet and evil will happen. Same thing with one incident that happened years back when one build collapsed in Lagos, kill that billionaire and people are Wondering whether they don't see the vision for him. Evidence later show that billionaire is stingy moderfuxker . If your way truly please God, he will continue to spare your life because he's using you for certain things

planetx:
You have any source for the aide refusing to board the helicopter?

Next time learn to use Google https://saharareporters.com/2024/02/11/how-access-holdings-ceo-wigwes-aide-olushola-escaped-death-helicopter-crash

https://tribuneonlineng.com/how-herbert-wigwes-aide-escaped-helicopter-crash-that-killed-ceo-family/

franchasofficia:
Only a military helicopter on a special mission during war and for reconnaissance mission should fly under such weather condition.


I keep wondering what made Dr Wigwe agreed to embark on such deadly trip with his wife and kids, people really get mind; it's not advisable for husband, wife and kids to travel by air on same jet or helicopter, please friends learn from this. Always travel separately as a family, especially by air.


If my wealth gets to the net worth of Wigwe, I will stop traveling outside the country I live permanently, and if I must travel, it will be once in two or three years.


I still wonder the joy people derive in traveling around the world and even the nation, worst of via air transport. I derive joy in staying one place and moving around the city in a car, anything that involves flying or traveling long distance always make me sick, RIP brother, your death really hurt me, I pray Emeka doesn't squander your hard earned wealth

you will understand until you become a millionaire in dollars

franchasofficia:
Only a military helicopter on a special mission during war and for reconnaissance mission should fly under such weather condition.


I keep wondering what made Dr Wigwe agreed to embark on such deadly trip with his wife and kids, people really get mind; it's not advisable for husband, wife and kids to travel by air on same jet or helicopter, please friends learn from this. Always travel separately as a family, especially by air.


If my wealth gets to the net worth of Wigwe, I will stop traveling outside the country I live permanently, and if I must travel, it will be once in two or three years.


I still wonder the joy people derive in traveling around the world and even the nation, worst of via air transport. I derive joy in staying one place and moving around the city in a car, anything that involves flying or traveling long distance always make me sick, RIP brother, your death really hurt me, I pray Emeka doesn't squander your hard earned wealth

emeka lol, i think hes going to make his children to be next of kin, or is it only one child he get

WorldRichest:


The other idiot that died with them Abimbola Ogunbadejo is a former Group Chairman of Nigeria Exchange Group Plc, that is where the greatest frauds happen everyday. People that bought shares using millions some years back, the sharks are now worth few thousands because of manipulation of shares prices by the criminals.

My personal over 14 million Naira investment in Shares between 2004 and 2012, this is money I starved myself to invest over the years. The last time I check, it was worth less than 350,000 Naira. That is money I should have used to drink, smoke, club, and carry Olosho, but I thought that I was wise, so I invested it in Shares, and evil men in high places looted my money. They will never escape miserable deaths

who advise you to buy share that time? Why not buy lands up and down then the land will worth millions this days

delzbaba:
Just drive or use a plane guys, helicopters are 50/50

yes, that sh1t can disappoint like mad, remember yakowa and azazi in 2012 for bayelsa state, abi na Kobe Bryant? E plenty. I no gbado am at all

Jones4190:
The good ones depart while evils one stay on to continue dishing out wickedness. May the souls of the departed rest in peace and the evil still alive know no peace

You must be one of the evil ones since you are still here posting rubbish.

Good points! Ask Russian president or cronies - those guys hardly travel and when they do, they assume another identity! Once you become wealthy you are target that somebody is perfecting plans to eliminate!

Nah Wah oooooooooo, Wonders Shall Never End, All The Self Acclaimed Billionaires Are Great Criminal Of The Highest Order. It's Well.

TYCO77:
[color=#000099][/color]

Contrary to his public image as a no-nonsense Governor of the Central Bank and a reformer who always pride himself as an anti-special interest, Sanusi Lamido Sanusi’s complicity in the questionable acquisition of Intercontinental Bank by Access bank and the God-Father role of Dr, Bukola Saraki showed the true Sanusi Lamido Sanusi. Oluwaseyi Oduyela reports, how the former Governor of Central Bank- Sanusi Lamido and Dr, Bukola Saraki masterminded the biggest bank fraud in Nigeria’s Banking Industry history.

By Seyi Oduyela/Washington, DC

In 2009 when Mr. Chukwuma Soludo’s appointment was due for renewal as the Governor of Central Bank, late President Yar’Adua was misled by the cabal that eventually hijacked his government into refusing Mr. Soludo’s a second term and instead, appointed Sanusi Lamido as Soludo’s successor. Prior to his appointment as the Governor of Central Bank of Nigeria (CBN) Soludo had joined the government of former president Obasanjo in 2003 and served as the Chief Economic Adviser and Chief Executive of the National Planning Commission of Nigeria .

So in June 2009, Sanusi Lamido became Governor of Central Bank. Barely two weeks in office, in an unusual move, Lamido dispatched Central Bank of Nigeria examiners to five banks- AfriBank, FinBank, Intercontinental Bank, Oceanic Bank and Union Bank. A CBN source disclosed to Africa Inquirer that the inclusion of Intercontinental Bank was a surprise because the CBN just concluded a comprehensive examination of the bank and gave it a clean bill. In a surprise twist of event, CBN examiners changed their positive report on Intercontinental Bank to “non-performing.” Our source at the CBN disclosed that Mallam Lamido rejected the favorable report presented to him, hence the re-classification of the report from “performing to non-performing.” As at this time, Intercontinental Bank was one of the biggest and the largest bank with a balance sheet size of about N1.7 Trillion.

Our investigation reveal that, late Yar’Adua refusal to renew Soludo’s appointment was actually influenced by Dr. Bukola Saraki using is political weight as the then Chairman Governor’s forum. It was “Saraki who pressed for the replacement of Soludo with Lamido,” our source disclosed. Why would Saraki want Lamido? What is Saraki’s interest in Lamido and what connects the two men? Africa Inquirer diggings reveal that Mallam Lamido and Bukola Saraki have been childhood friends. The two went to same High School, King’s College Lagos with their mutual lawyer, Kola Awodein. While Lamido graduated in 1977, Bukola Saraki left King’s College in 1978. Besides being school mates, Saraki and Lamido are Akingbola’s mutual enemies by their own creation. Before the emergence of Sanusi Lamido as the Governor of CBN, Dr. Bukola Saraki had taken a loan from Intercontinental Bank to the tune of N11Billion.

Our investigations reveal that through Joy Petroleum, as a parent company, Saraki used four other companies namely: Skyview Properties Ltd, Limkers Ltd, Dicetrade Ltd, Carlisle Properties and Investment Ltd, while Dr. Bukola Saraki was portrayed by the bank documents as the Prime Promoter of all the companies including Joy Petroleum Ltd. Under Erastus Akingbola, Saraki secured the 11 Billion Naira loan with four houses in Ikoyi and in Abuja. The houses are on 19 Ruxton road, Ikoyi; 15A MacDonald Road, Ikoyi; 17 MacDonald Road,Ikoyi and Plot 2481 Cadastral Zone A06 Maitama, Abuja.

AigSanusi andWigwe

As soon as Lamido became the CBN governor, and with the doctored report of ‘non-performance” of Intercontinental Bank which was never released to the public till date, Lamido fired the CEOs of the five banks, including Akingbola and appointed acting Managing Directors. Mr. Lai Mahmoud Alabi, a former staff of Bukola Saraki was appointed by Lamido as the Acting MD of Intercontinental Bank. Lai Alabi served as Bukola Saraki’s Chairman of Songa Farms and several development funds in Kwara State.

Lai Alabi’s first task as the new head of Intercontinental Bank was to summon the board of directors to write off N 8.1 Billion out of the N11 Billion owed by Saraki and which were surprisingly, well collateralize with choice assets in Ikoyi, this write-off was strongly condemned by the CBN examination report of May 2010 which complained about the massive loan forgiveness, calling it “cash gift.” The examiners also questioned the rationale behind the return of the collaterals to Saraki. Yet, Mr Lamido never acted since he was only satisfying his benefactor.

Curiously, before Lamido’s takeover of Intercontinental bank, the bank’s inter-bank takings was N73 Billion, with no record of the bank’s indebtedness to the CBN but by the time the bank was sold, it was owing the CBN N100 Billion and other banks N300 Billion. Contrary to Lamido’s claim that he injected N100 Billion to revive Intercontinental bank, the bank’s balance sheet as the time of takeover was N1.6 Trillion. The bank had 330 branches, 2 foreign subsidiaries, 12,000 employees and paid-up capital of N230 Billion.

If the takeover of Intercontinental bank and the replacement of its employees by former employees of defunct Societe Generale Bank were not surprising enough, the sale of the bank to Access was the most fraudulent in Nigeria’s banking industry history.

In 2011, Aig Imokhuede, founder of Access Bank and a debtor of Intercontinental Bank began talks with the Sanusi Lamido-led Central Bank of Nigeria to acquire Intercontinental Bank Plc. Further to the approval of the shareholders of Intercontinental bank and Access Bank, court sanction of the Federal High Court of Nigeria and approval of the Central Bank of Nigeria and the Securities & Exchange Commission, Access Bank Plc (“Access”) and Intercontinental Bank Plc (“Intercontinental Bank”) announced the completion of the recapitalization of Intercontinental Bank and the acquisition of 75% majority interest in Intercontinental Bank by Access Bank Plc.

In effect, Intercontinental Bank (including all its assets, liabilities and undertakings) became a subsidiary of Access Bank Plc. Aluko & Oyebode acted as Transaction Counsel to Access Bank Plc in connection with its acquisition of Intercontinental Bank Plc. The question is how did Aig Imokhuede and Herbet Wigwe acquired Intercontinental Bank?

Africa Inquirer obtained a loan document showing how Aig Imokhuede and his partner Herbert Wigwe (current MD Access Bank) used a company called United Alliance Company of Nigeria to borrow over N16 billion from Intercontinental Bank under Akingbola. The duo tactically delayed payment of the loan. Aig wrote to Mr Lai Alabi twice rescheduling the payment of the loan which were allegedly written off by the CBN before the forced controversial acquisition of the bank by Access.

Our investigation later discovered that, the delay tactics was part of the plan of Saraki and Lamido to sell Intercontinental Bank to Aig Imokhuede who took loan from Akingbola’s bank to acquire Access Bank. Lamido’s CBN used AMCON to deplete Intercontinental bank’s assets before selling it to Access bank. Since Access bank is owing Intercontinental Bank N16 Billion, where did it get the N50 Billion to purchase Intercontinental Bank? Africa Inquirer discovered that Aig Imokhuede, sourced for the N50 Billion from Bank of Industry.

Evelyn Oputu, Former CEO, Bank of Industry

Evelyn Oputu, Former CEO, Bank of Industry

As at this time, the Managing Director of Bank of Industry was Mrs. Evelyn Oputu, Aig Imokhuede’s mother-in-law. With impunity, under the supervision of Malam Lamido as the CBN Governor, N50 billion was paid to Intercontinental bank account in the evening, and immediately after the acquisition of Intercontinental Bank was announced, Aig Imokhuede, transferred the N50 Billion back to the Bank of Industry. By implication, Aig and his group paid nothing for Intercontinental Bank. Mrs. Oputu is being investigated by the Financial Reporting Council for alleged fraudulent practices as the Managing Director of the Bank of Industry.

Source:
http://yemojanewsng.com/revealed-how-access-bank-fraudulently-took-over-intercontinental-bank-the-bukola-saraki-lamido-sanusi-script/