FORMER Vice Chairman and Chief Executive Officer of Intercontinental Bank PLC, Dr. Erastus Akingbola, voluntarily returned to the country, yesterday, to answer questions and allegations levelled against him by the Central Bank of Nigeria and the Economic and Financial Crimes Commission, EFCC.

A close family source confirmed to Vanguard that “Dr. Akingbola’s voluntary return to the country is to defend himself of all allegations against him in the law courts.”

He said you will recall that in a statement earlier this year, Dr. Akingbola’s counsel, Mr. Charles Nwajagu had indicated that Akingbola was ready to come back to Nigeria as soon as the suit in London would have been given mention in court. He said the suit required his personal attention. The case was mentioned in London court on July 14, 2010 where it was adjourned till December, 2010.

Akingbola, who had been in the United Kingdom in the wake of the CBN banking reform last year, arrived Abuja, yesterday, and was received by his lawyer, Chief Felix Fagbohungbe, SAN, and close family members. The source said that Dr. Akingbola would likely report to the EFCC today after due consultation with his lawyers.

Vanguard gathered that he flew into the country through the Nnamdi Azikiwe International Airport, Abuja, at about 5.00 a.m, aboard a British Airways flight and was met by his legal adviser before proceeding into the Federal Capital Territory to complete his legal consultation with his lawyers and some prominent Nigerians believed to have facilitated his free entry into the country.

The ex-bank chief had been declared wanted by the EFCC last year, following his refusal to honour the Commission’s invitation to answer money laundering charges. He was equally placed on the agency’s watch list, an action that also placed him on the wanted list of border security agencies like the Dept of State Security, Immigration Service and Customs.

A top source in the nation’s security network, however, said that Akingbola was able to enter the country through the airport without any move by the security agencies whose duty it is to give effect to the EFCC watch list, because “some people up there have intervened to clear the road for him.”

Extradition plan

Another credible source in the Presidency who confirmed Akingbola’s arrival said the former bank chief struck a deal with some people in government when it was obvious to him that the EFCC had succeeded in persuading the British government to extradite him and that would have happened in a matter of weeks.

A source close to the chairperson of EFCC said she was bent on making a case with Akingbola, adding: “She has already ordered her men to declare a manhunt for Akingbola where ever he is in Abuja or any other part of the country. I am sure they will get him.”

Reacting to the report, spokesman for the EFCC, Mr. Femi Babafemi said the chairman of the commission, Mrs. Farida Waziri, was aware of Akingbola’s arrival and had declared a manhunt for him. He said: “Two units have been mandated to arrest him.

We are currently searching for him in Lagos and Abuja. The chairman got the information this morning and set up two units to search for him, we are confidence we will track him down.”

If arrested, Akingbola will face 23-count charge along with six other officials of his bank who had earlier been arraigned before Justice Tijani Abubakar of the Federal High Court, Lagos, for laundering of N27 billion. The case is before Justice Ramat Mohammed of the Federal High Court, Lagos.

The embattled former chief executive officer of Intercontinental Bank, Erastus Akingbola, had fled the country in 2009, to evade arrest and prosecution by the EFCC. According to his family source “Akingbola’s return shows that he is not afraid to face trial in proper courts of law. He is presently consulting with his legal team and the outcome of this consultations would determine his next steps.

“Akingbola emphatically denies all allegations of wrong-doing or improper conduct and has challenged the legal validity of his removal from office as Group Chief Executive of the Intercontinental Bank Plc by way of Judicial Review.”

It will be recalled that the Central Bank of Nigeria on August 14 sacked with immediate effect the Managing Director/Chief Executives and Executive Directors of five banks namely, Afribank PLC, Finbank PLC, Intercontinental Bank Plc, Oceanic Bank Plc and Union Bank Plc. The affected chief executives are Mr. Sebastine Adigwe, Afribank; Mr. Okey Nwosu, Finbank; Dr. Erastus Akingbola, Intercontinental Bank; Dr. (Mrs.) Cecilia Ibru, Oceanic Bank; and Dr. Barth Ebong, Union Bank.


http://www.vanguardngr.com/2010/08/04/akingbola-returns-reports-to-efcc-today/