The Economic and Financial Crimes Commission (EFCC) has filed 29 charges against former Managing Director of Intercontinental Bank, Erastus Akingbola, his wife, Mrs. Anthonia Akingbola and an associate, Bayo Dada over alleged theft of about N49 billion. The charges dated May 4 filed at the Lagos High Court alleged that Akingbola at various times was involved in the theft of monies belonging to Intercontinental Bank Plc and converting such into personal use or funding private companies in which he has interests.


It alleged that Akingbola convered the funds either for personal use or to fund his private companies including, Tropics Finance Limited, Bankinson Nigeria Limited and Tropics Properties Limited.

In one of the charges, the EFCC said, “Dr. Erastus Akingbola whilst being the Managing Director and Chief Executive Officer of Intercontinental Bank Plc sometime in March, 2009, in Lagos, within the jurisdiction of the Honourable Court stole the sum of £8,540,134.58 property of the Intercontinental Bank Plc by fraudulently converting same to your own use.”

The commission said Akingbola’s action amounts to “stealing contrary to Section 390(7) of the Criminal Code law, cap 17 Laws of Lagos State.”

EFCC also charged Mrs. Anthonia Akingbola and Bayo Dada with obtaining and receiving of stolen properties, through false pretence, while both were shareholders and directors of Tropics Securities Limited and Tropics Properties Limited.

The commission said Akingbola in collaboration with his wife and Dada defrauded the bank of billions of naira while channeling the funds through their private companies.


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in 8yrs what will one score this woman, as a percentage its below 50% and i doubt if shes been @ the helm for 8yrs that means some of the credit goes to former boss ribadu.
can we pls get someone more effective to chair the effc dept. asap. corruption is the bane of our society.
efcc can charge akingbola but that is all. nothing will come out of it just like all others

what does it matter? He'll enter a plea bargain and forfeit N40bn out of the N49bn instead of capital punishment which he really deserves. I Pity this country.

leonaidas:

what does it matter? He'll enter a plea bargain and forfeit N40bn out of the N49bn instead of capital punishment which he really deserves. I Pity this country.

GBAM GBAM GBAM you just said it all,the plea bargain follows and everybody goes home happy with their loot.