A London High Court has grated a worldwide mareva injunction against the assets of sacked Group Managing Director of Intercontinental Bank Plc, Mr. Erastus Akingbola, his wife and nominees in the sun of £83m.

The injunction granted on Monday by Hon Justice Blair of the High Court of Justice in London was based on claim No 2009, Folio 1680 filed by Intercontinental Bank, and is an extension of an earlier order granted on December 23, 2009 for the sum of £11m.

Akingbola, who has been living in London after his ouster last August by the Central Bank of Nigeria, for nearly running the bank aground, has until February 12 to apply to set aside the injuction, sources close to the proceedings said on Wednesday.

A Federal High Court in Lagos had on December 31, 2009 frozen N346bn and £11m in six Nigerian and UK banks allegedly belonging to the former bank chief.

Justice Tijani Abubakar also placed an interim forfeiture order on Akingbola‘s alleged assets and choice properties in Lagos, the United Kingdom, Dubai and Accra, Ghana.

The six banks in which the said amount was domiciled and frozen include Intercontinental Bank Plc, Access Bank Plc; Zenith Bank Plc; Skye Bank Plc; Fidelity Bank Plc and Intercontinental Bank (UK) Limited.

The judge also granted the application of the Economic and Financial Crimes Commission for a mareva injunction to temporarily freeze Akingbola‘s assets all over the world.

But the judge granted a reprieve to the embattled former bank MD saying that he should be allowed access to N1. 4m per month as living expenses and retention of legal advisers being equivalent to his lost take- home pay as the CEO of the bank.

The judge also ordered that the interim order would be in force, pending the trial of the ex-bank chief.

He added that the court order should be served on Akingbola through a courier service, DHL, at his known residence at No 26, Chester Terrace, London, England NW14ND.

The EFCC had filed three ex-parte applications in which the anti-graft agency urged the court to freeze the bank accounts and forfeit the assets of the ex-bank chief.

The EFCC had claimed that its investigation revealed that Akingbola had allegedly perpetrated serious economic and financial crimes including money laundering, theft, capital market manipulation, tax fraud, obtaining money through false pretences, criminal granting of loans and facilities, insider abuse, insider trading and abuse of office.

It added that further investigation of the amount involved was N346bn and 11 pounds sterling, saying that Akingbola absconded and had been declared wanted.

The agency also alleged that Akingbola and his associates were trying to remove assets from Nigeria, adding that he had attempted to move N2bn out of the country after he was declared wanted.

Ajayi also told the court that Akingbola moved 10million pound sterling out of Nigeria.

Justice Abubakar subsequently ordered the seizures.

The schedule of the seized properties include: property at Milverton Road, Ikoyi, Lagos; Amazing Grace Plaza, Ligali Ayorinde Street, Victoria Island, Lagos; No. 2, Bedwell Road, Ikoyi; No. 26 Chester Terrace, London, England, NW1 4ND; No. 65 Gove-End Road, London NW8 9NH, England, No. 8 Connaught Street, London W2 2AH, England; properties in Accra, and Dubai (suspected to be owned directly or indirectly by Dr. Erastus B.O. Akingbola).

The court also seized his shares in 11 companies, as well as a number of luxury car

http://www.punchng.com/Articl.aspx?theartic=Art201001284233884

I feel for Akingbola. But on the other hand, that is one Nigeria for the Yoruba nation. What could have ended in 1967, you people rejected. MKO is gone Bode George in Jail, Akingbola now at large. Hope you are coming to understand this Hausa-fulanis better.
Prof. Jubril Aminu was mentioned in the 10 miliion Euro Siemens bribery scandal, but today nobody talks about it agin.

I think it's good we remain like this, ONE NIGERIA FOR LIVE!!!!!!!!!

I think the best way to judge these bank chiefs should be to allow them walk through the Lagos markets and go free if they don't get lynched! The stolen amounts are too much. Who knows the amount we would hear when it gets to the turn of the Zenith and UBA chefs.

^ LOLs , would you like a bite too ?

this is serious!!

i mean why would you intentionally run a bank down??

i dont get it, if u keep the banks running you can steal more money

isnt it?? thats what they do down here

but these goats dont even think

they just steal and loot, loot and steal

how many houses will he live in

God save us from the leadership of monkeys!

83 MILLION POUNDS ?


JUST A FEW POUNDS RICHER THAN ME.

CRIMINAL BRITISH ACCOMPLICE.
THEY FROZE IT BECAUSE NIGERIA HAS INTEREST ON THE ISSUE NOW.

THERE ARE NUMEROUS PUBLIC OFFICE HOLDERS WITH SUCH LOOTED WEALTH ALL OVER BRITAIN

WHAT ARE THEY DOING ABOUT IT, OF COURSE WE SHOULD NOT BLAME THE WEST

All this freezing and seizing,

a good suggestion will be to distribute them to people that need them, they should introduce benefits and start paying single mothers and build free council houses for the poor like developed countries do.

seizing and just leaving them dormant makes it useless

MY PASTOR. I THROWAY SALUTE.

Does it mean that this bank thiefs, sorry chiefs actually stole much  more than the politicians or is EFCC just bamboozing with an exageratted mind blowing figure. God help us

that means , everything d man work don go be dat why he was till alive,  lol sorry ooooooooooooooooooooooooooooo :-

nadico:

Does it mean that this bank thiefs, sorry chiefs actually stole much  more than the politicians or is EFCC just bamboozing with an exageratted mind blowing figure. God help us  

I also thought of it so, EFCC likes publicity hence they can add zeros in what ever amount stolen, i am not in support of stealing or looting but who will checkmate the excesses of the EFCC. Who monitors how they spend the money allocated to them. If you eventually probe the EFCC and investigate how they spent the money allocated to them, you just may be surprised to find another Akingbola in Madam and her EFCC. E.g. Tafa Balogun and other IGPS are examples of law enforcement agents being corrupt. What about the Immigration or is it Customs Boss with forged Certificates. i don't trust Nigerian Law Enforcement Agencies again. I only pray the the looters should remember to work for the people.

Like we say in vernacular; "work and chop", no body go vex.

Oh just another seizure news I don't just want to hear!!

**NEXT**

Gold-mind, what has this crime and criminal got to do with the Yoruba Nation. A crime is a crime and a criminal is a criminal. If Hausa-Fulani wants to help us remove crimes and criminals like Akingbola from the Yoruba nation, it is indeed welcome.

Other tribes can continue to praise sing their own criminals.

Ajayi also told the court that Akingbola moved 10million pound sterling out of Nigeria.

Akingbola mess up , only ten million pounds :oand you allow them catch you. how much did OBJ steal,

what about James ibori that stole about 5 TRILLION NAIRA? all 178 charges was dropped because he was the one that purchased yar'adua presidential form. all Nigerians are potential thieves. if i find myself in such position i will steal very well without any trace to me cos I'll look and sturdy the mistakes this guys made. abi nor be so?

uzebu714:

what about James ibori that stole about 5 TRILLION NAIRA? all 178 charges was dropped because he was the one that purchased yar'adua presidential form. all Nigerians are potential thieves. if i find myself in such position i will steal very well without any trace to me cos I'll look and sturdy the mistakes this guys made. abi nor be so?

This mentality here is why nigeria will NOT move forward

Only the UK houses he own cost over 40M Pounds, its only GOD that can help us

yorubas say if wall no open lixard no fit enta,if naija elite r not crimal minded dey wount even think of collecting such a huge amount takless of freezin it.i no blame dem london govt,who no like beta tin.a subtle way of saying i'm not gona give u bak ur money,its now a case of ole gbe,ole gba

They've done well.

You people should stop saying only God can help us. What rubbish is that ? Let's make a decision"for those of us who still have a conscience" and decide to blow the whistle on any such rubbish we see. Where were all the useless executive directors when he was shifting all these funds ? I guess he was pacifying them with peanuts.

End of the road for Eractus, More to follow, Who next? is the big question,

hmmmmmmmmmm, What shall it profit a man to gain the whole world and looses his soul

Foregett itt, all na lieeee, cast ur mind back to alamaiesiegah, wen effcc jus dey confisicate here nd derrr, tell mee he is not still a billionaire nowww, na only wetin EFFCC see dem go confisicatee!!!, nd I wouldnt blame either akingbola or ibru, dey belived dey owned d bankk, some one like akingbolaa dats all he has laboured for all his liffee nd cecilia ibru as well.

How come Akingbola is in the Uk in the first place? , I thought all the said bank chiefs were under arrest in Nigeria?

latch:

How come Akingbola is in the Uk in the first place? , I thought all the said bank chiefs were under arrest in Nigeria?

The thieving vagabond bailed out before they reached him. . . . .

the arant nonsense would not happen in the oriental world. He wouldnt even wait for judgement to come , he would pass the judgement on himself because it might even be worse than capital purnishmen. Akinbgbola shd go and commit suicide. he is a bastard

hmmm


so wat now

i really do not want to support Akingbola in any way cos the truth is still hidden for all i care, they said he laundered 10billion late last year thru some persons only to swallow their vomit when it was open and obvious that the transaction in question was done before they were sacked. EFCC will continue to lie and refused to chase the actual looters who are roaming the streets of abuja, who cannot even travel out cos of their crime. These men would have over done it but let me ask a reasonable question, if you own a biz that has over 10,000 staff and properties worth billions, can you ever be a poor man?.
\what would they do with the asset that they want seized?why the draconian rules in this sector, lets leave what all the cheap and corrupt media houses are propagating.They are being paid no wonder there is nothing called investigative journalism now in nigeria. Why would CBN go ahead and publish banks performance without showing the result to stake holders, why are they lying. Judgement will certainly catch up with sanusi, get me right, i am not working with any bank and i have nothing to do with none of these mds but sooner or later the truth will prevail.

How on earth can a normal human being make his bedroom his toilet and his toilet his bedroom. All this idiots who are taking all our resources abroad, dont they know that there is no place like home? How many european leaders have stolen their money and hide it in Africa?

We obviously need the likes of Jerry Rawlings in Nigeria for a thorough clean up. I miss you though IDIAGBON! MAY YOUR SOUL REST IN PEACE.