A prosecution witness, Abdulraheem Jimoh, in the ongoing trial of Erastus Akingbola, a former Managing Director of the defunct Intercontinental Bank Plc, yesterday told Justice Mojisola Olatoregun of the Federal High Court sitting in Ikoyi, Lagos, how the defendant diverted funds from the bank and bought some property in London for £9.7 million

A statement yesterday in Abuja by the Acting Spokesperson of the Economic and Financial Crimes Commission (EFCC), Tony Orilade, said the prosecution had on Tuesday, March 12, 2019 opened the trial of the former bank chief.At the resumed hearing, Jimoh, a former Chief Inspector with the defunct Intercontinental Bank, told the court how he unravelled fraudulent transactions by Akingbola.

Led in evidence by the prosecution counsel, Rotimi Jacobs (SAN), the witness said: “I was given a letter by the management of the bank, which came from Tropics Securities Limited, a company owned by Dr. Erastus Akingbola, his wife and some other shareholders.


“The letter was addressed to the Group Managing Director, Dr. Erastus Akingbola and for the attention of Mr. Olayinka Adebiyi, requesting the payment of N10 billion, N1.2 billion and N4.3 billion to Tropics Securities Limited and other companies. “Investigation report on the issuance of N10 billion to Tropics Properties, Tropic Securities Limited and Bankinson Nigeria Limited showed that the monies paid and cleared by Access Bank were said to have been used to pay for the “indebtedness to Access Bank”.

The witness said the N10 billion fraud was discovered by the bank and later forwarded to him for further enquiry. In his further evidence, he said he discovered, during investigation, that the defendant acquired property in London with £8.5 million and £1.2 million allegedly diverted from the bank. He added: “This was discovered when the bank received a letter via e-mail from Deutsche Bank of London.

“Monies were transferred to Soo-Kok Holdings Limited; Tofa General Enterprises; Cinca Nigeria Limited; Harmony Trust and Investment Limited; Stanzus Investment Limited.” Counsel to the defendant, Wole Olanipekun (SAN), during cross-examination, confronted the witness with a documented evidence he gave to an Ikeja High Court some years ago where he contradicted himself over his MBA qualification.

“I enrolled, but the MBA programme was aborted because I didn’t finish some project works in 2000 from the University of Ilorin,” the witness stated. Olanipekun also told the court that the witness was misleading the court, saying: “The witness is not a witness of truth and, therefore, should not be believed by the court of his testimony.”

When asked to explain to the court the origin of the statement to the court marked Exhibit L, he said: “The statement was written in my office when the EFCC investigators came to interview me. They gave me their letter head.”The statement was typed by someone else in my office.

“I sat beside the person who typed the statement while I dictated the hand-written statement to her.” Under further cross-examination, he said he never interrogated or met with the defendant.The witness, however, admitted to have interrogated various Heads of Departments in the bank.

“I interrogated various Heads of Departments in Intercontinental Bank because they acted upon the instructions of Akingbola”, the witness said. The witness also told the court that no loan was granted to the defendant or his companies. Justice Olatoregun adjourned the case to today, March 14, 2019, for continuation of trial.

https://www.akelicious.net/2019/03/witness-reveals-how-akingbola-allegedly.html

Na wa

That era when the looting was not restricted to politicians alone. A lot of unsuspecting investors that were buying shares in that era loss all their money to crooks like this between 2006 and 2010. Intercontinental bank, oceanic bank, bank phb and a host of others disappeared then with losses to people by thiefing crooks.

I buy your iTunes cards for 240/$ bring any denominations

hmm good morning people ..
you take our money and go and buy house in another country..
just hang him by the balls, it will be a good example to looters

Space booked

Ftc

Is this case still on
The story is confusing -
EFCC made him lie? Or he’s a liar ? Or he’s fraud ?
Or he was bankrolled to blackmail someone ?

Money spent since ages...
Lives changed
People already billionaires
Fraud the way
Wizkid: no matter the occupation nobody holy o abegi leave story my brother leave story.........

Justice must prevail!

Another round of four year wasting being loaded.


Useless media corruption war fight.


Keep these woefully tales & sensational story of media, get convictions & send the criminals to jail.

This people are rouge

This is what he may likely tell the court.

The truth is somewhere in between

Erastus Akingbola will never go down in this country.

This is a man who singlehandedly built Intercontinental Bank for twenty years. Suddenly, his sweat of 20 years was gifted to Access Bank. A philanthropist and God fearing man who delights in rewarding his employees very well.

He would often say, if you have worked for me for 3 years and have nothing tangible to show for it then you don't deserve working here. A man who supported several communities and Universities with projects and funds.

Erastus Akingbola was a big Employer of Labour in Nigeria with a very unique reward system. He will pay salaries, upfront, variable, jetta, profitsharing, medical refund, tie allowance, Anniversary payment, leave and passage, hazard, lunch etc.

In my final year in the University, I was fascinated by the hexagonal logo and colours of Ibplc. I told myself this is where I was going to work once I am done with NYSC. After NYSC, I took my CV to 999c Danmole Crescent, Idejo; the Head Office of the then Ibplc where I was later slated for a test at Airforce Sec. Sch, Air force Base, Ikeja then followed by numerous interviews and training school at the UAC Training School, Apapa. As a new Executive Trainee, fresh from NYSC, my remuneration stood at #154k monthly.

I am forever indebted to you and I know you will fight this battle to the end.

And he was one of Adegboye RCCG favorite pastors. As an ex auditor i can tell u all bank chiefs do this crap. Why were erastus nd cecilia and some others singled out Sanusi and saraki over to u

I honestly think on if these people should be made an example and by example I mean jailed. It will send a very strong message to others.

Wow nice post i will like to share the post on naijatch.com

EAT ALONE DIE ALONE

People will still find something wrong with the efcc for this trial. I wonder the type of humans we have here in 9ja.

chidima2019:
A prosecution witness, Abdulraheem Jimoh, in the ongoing trial of Erastus Akingbola, a former Managing Director of the defunct Intercontinental Bank Plc, yesterday told Justice Mojisola Olatoregun of the Federal High Court sitting in Ikoyi, Lagos, how the defendant diverted funds from the bank and bought some property in London for £9.7 million.

If he is guilty, he should be jailed and forgotten in the prison. We are Omoluabi, we don't cover up our own like the f.latheads. We don't shout witch hunting like the OSU people. We abhor corruption unlike the chest-beaters. We are progressives unlike the wailers who want to be president in the country they called the zoo. We are happy with our identity unlike the self-acclaimed and publicly disowned Jews. We are decent people unlike the druglord of erosion republic.

there is a documentary by russians anti corruption fighting on Abdul salami real estate property in london , go and arrest him not just by arresting only southern Christians


http://saharareporters.com/2017/10/02/%E2%80%98kleptocracy-tour%E2%80%99-london-exposes-properties-purchased-laundered-funds-owned-saraki

Ole ole

They want to reverse the judgement and reclaim intercontinental bank for akingbola based on the credibility of the witness. Now that saraki has lost his power. They are going somewhere.

Please return akingbola's bank to him.

Ok

Scandinavian02:
Erastus Akingbola will never go down in this country.

This is a man who singlehandedly built Intercontinental Bank for twenty years. Suddenly, his sweat of 20 years was gifted to Access Bank. A philanthropist and God fearing man who delights in rewarding his employees very well.

He would often say, if you have worked for me for 3 years and have nothing tangible to show for it then you don't deserve working here. A man who supported several communities and Universities with projects and funds.

Erastus Akingbola was a big Employer of Labour in Nigeria with a very unique reward system. He will pay salaries, upfront, variable, jetta, profitsharing, medical refund, tie allowance, Anniversary payment, leave and passage, hazard, lunch etc.

In my final year in the University, I was fascinated by the hexagonal logo and colours of Ibplc. I told myself this is where I was going to work once I am done with NYSC. After NYSC, I took my CV to 999c Danmole Crescent, Idejo; the Head Office of the then Ibplc where I was later slated for a test at Airforce Sec. Sch, Air force Base, Ikeja then followed by numerous interviews and training school at the UAC Training School, Apapa. As a new Executive Trainee, fresh from NYSC, my remuneration stood at #154k monthly.

I am forever indebted to you and I know you will fight this battle to the end.

So because a thief gave you a job with good remuneration, he should be applauded?

If we check now, you follow dey criticize GEJ...

You are part of the problem of this country!

I am still expecting a Yoruba person to say that He is being persecuted because of his religion or tribe like some people use to do

Notice how you will not find Yorubas defending the thief unlike our other brothers

Scandinavian02:
Erastus Akingbola will never go down in this country.

This is a man who singlehandedly built Intercontinental Bank for twenty years. Suddenly, his sweat of 20 years was gifted to Access Bank. A philanthropist and God fearing man who delights in rewarding his employees very well.

He would often say, if you have worked for me for 3 years and have nothing tangible to show for it then you don't deserve working here. A man who supported several communities and Universities with projects and funds.

Erastus Akingbola was a big Employer of Labour in Nigeria with a very unique reward system. He will pay salaries, upfront, variable, jetta, profitsharing, medical refund, tie allowance, Anniversary payment, leave and passage, hazard, lunch etc.

In my final year in the University, I was fascinated by the hexagonal logo and colours of Ibplc. I told myself this is where I was going to work once I am done with NYSC. After NYSC, I took my CV to 999c Danmole Crescent, Idejo; the Head Office of the then Ibplc where I was later slated for a test at Airforce Sec. Sch, Air force Base, Ikeja then followed by numerous interviews and training school at the UAC Training School, Apapa. As a new Executive Trainee, fresh from NYSC, my remuneration stood at #154k monthly.

I am forever indebted to you and I know you will fight this battle to the end.

This type of mindset is one of the major problems we have in this country, so because he was good to you and you benefited from his largesse you don't care whether he ruined the lives of others or engaged in major corruption.......