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Akingbola Accuses Efcc Of Going Beyond Court Order - Politics - Nairaland

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Akingbola Accuses Efcc Of Going Beyond Court Order by dani1luv: 4:18pm On Jan 24, 2010
The former chief executive officer of Intercontinental Bank Plc, Erastus Akingbola, has accused the Economic and Financial Crimes Commission (EFCC) of exceeding the order of the court in a bid to freeze some of his accounts.

This was disclosed through the counsel to the former CEO, Felix Fagbohungbe, who informed Justice Tijani Abubakar of the Federal High Court in Lagos on Monday that he has filed an application urging the court to make an interim order, preventing the commission from further executing the court order. Mr. Fagbohungbe noted that in addition to the order of the court, the commission has further gone ahead to confiscate some properties of Mr. Akingbola that were not included in the court order. He asked the court to grant him an interim order pending the time when the EFCC’s counsel, Konyinsola Ajayi, would be in court to resolve the issue.

“Order was obtained ex-parte; even if they are not here we should be entitled to the same treatment, since we were not in court when the order was obtained. The court did not make the order they are executing. I urge the court to stay execution, for all parties to come before the court,” Mr. Fagbohungbe appealed.

Not until all parties are in court

Justice Abubakar stated that an interim order cannot be granted in the absence of the EFCC. He urged the counsel to Mr. Akingbola to pick a date, for all the parties to appear in court to resolve the issue and for all the other pending applications before the court to be heard. The matter was adjourned to February 3, 2010 for hearing of all the pending applications before the court. The presiding judge further ordered that hearing notice should be served on the counsel to the commission, Mr. Ajayi.

Previously, Justice Abubakar had ordered the freezing of the bank accounts of Mr. Akingbola, his wife, Anthonia Akingbola, his companies and those of his agents, amongst other orders, pending the final determination of the 28-count charge levied against him by the commission. Other companies affected by the order include Tropics Finance Investment Company Ltd., Regal Investment Company Ltd., Bankinson Nigeria Ltd., Tropics Properties Ltd., Tropics Securities Ltd.,Tropics Holdings Ltd., and Yankuri Nigeria Ltd. The orders were sequel to an ex-parte application by the commission; it also came on the heels of a similar order by the High Court of England which had on December 23, 2009, granted Intercontinental Bank a worldwide mareva (restraining order) injunction over the assets of the former bank chief put at over £10million.

Mr. Akingbola had however fled the country in August 2009, shortly after he was sacked as the MD of the bank by the Governor of the Central Bank of Nigeria (CBN), Lamido Sanusi. He was later declared wanted by the EFCC after a warrant of arrest was issued against him. The 28-count charge levied against Mr. Akingbola borders on money-laundering and other economic crimes, allegedly amounting to about N346 billion in his capacity as the Executive Vice Chairman and Group MD of Intercontinental Bank Plc.


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