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Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud - Business - Nairaland

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Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by mukina2: 9:09am On Apr 03, 2012
LAGOS, - A Federal High Court in Lagos on Monday dismissed the criminal charges filed against the former Managing Director of Intercontinental Bank ( now Access Bank), Dr Erastus Akingbola, for lack of diligent prosecution.


The EFCC had on Dec. 31, 2010 arraigned Akingbola on a 22-count amended charge of misuse of depositors’ fund, abuse of office and money laundering to the tune of N5 billion.

In his ruling, Justice Charles Archibong held that the prosecution counsel, comprising five Senior Advocates of Nigeria, were incompetent in the prosecution of the charges against the accused.

“I direct the Attorney-General of the Federation to disband, sack and de-brief the present prosecuting team and their various respective firms for abuse of court process.

“They are a drain on the public purse,’’ he said.

Archibong said the prosecution had chosen to pursue a campaign to “scandalise’’ the court, saying “this amounts to serious and professional incompetence in prosecuting the accused.

“The counsel shall not be given any further audience in relation to the charges against the accused either by me or any other judge of the Federal High Court.

“I hereby dismiss the charges amended or otherwise on the grounds of incompetence. I discharge the accused person accordingly,’’ he ruled.


Source
Re: Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by mascott(m): 9:18am On Apr 03, 2012
Interesting...
Re: Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by Ninilowo(m): 9:19am On Apr 03, 2012
Akingbola and Ibru wwere just victims of victimazation from the higher forces.
I congratulaate him anyway.

1 Like

Re: Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by Abeyjide: 9:27am On Apr 03, 2012
gradually cominback to take ova wat was politicaly snached from him.time wil tel
Re: Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by walcolm(m): 9:28am On Apr 03, 2012
this is by far the best narrative by a court. clearly pointing out the incompetence of the fat fools who call themselves SAN

all the tax payers monies that have been wasted on them in running this case is now lost and the process has to be restarted...its a shame
Re: Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by walcolm(m): 9:30am On Apr 03, 2012
Abeyjide: gradually cominback to take ova wat was politicaly snached from him.time wil tel

he is not taking back anything. he is guilty of most of the charges its just that the useless lawyers in this country are messing up the whole thing and that is why the pronouncements of the Judge in dismissing this particular charade is heart warming
Re: Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by gegee(m): 9:33am On Apr 03, 2012
EFCC are a bunch of id!ots wasting our money on a bunch of useless over priced SANs who don't know anything angry
Re: Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by buJu234: 9:38am On Apr 03, 2012
thats the normal thing in Nigeria;

EFCC & d govt. people make noise as if they are wking at the end;;; collects some of the billions stolen.

then forget the case & free them...

what a funny nation...

it looks like the Italian mafia movies
Re: Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by lafuria1(m): 9:41am On Apr 03, 2012
............... the same higher forces now decided to free him. he was not discharge becos he was found innocent rather becos the efcc team were incompetent, interesting. same thing happened in ibori's case in Nigeria but proved otherwise in UK. so much of fighting corruption when everybody can clain victimization and witch-hunting. but yet we read in news where poor nigerians who stole in the market places are giving speedy trial with competent persecution team are sentenced to 5years imprisonment
Re: Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by stepo707: 9:44am On Apr 03, 2012
Mtcheew! sad sad
Re: Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by rotimiland(m): 9:48am On Apr 03, 2012
https://www.nairaland.com/905756/court-frees-former-md-intercontinental
Re: Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by buJu234: 9:50am On Apr 03, 2012
@ la furia
but yet we read in news where poor nigerians who stole in the market places are giving speedy trial with competent persecution team are sentenced to 5years imprisonment

this is one of the no. 1 reason why corruption can die in Nigeria.

now; everyone knws that if u re poor in Nigeria; u will b the one to suffer alot.

this is why every one wants to make money in Nigeria either by crook; stealing; scam; corruption etc.

1 Like

Re: Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by Jencejyde(m): 10:02am On Apr 03, 2012
Thank God! The only thing i can say is , he was warned not to meddle with the northern creeps but he did not listen. He has finally learnt his lesson the hard way but thank God, at least mummy can come back to naija. Painful lessons learned, but at least very soon more will be exposed. Shame in Nigeria that political beef is always taking the order of the day. True he made some blunders, but most of the allegations roped around him were false and we just kept praying that one day he will be justified.

Thank God, he listened to good advice and kept his head low this time.

1 Like

Re: Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by Yorisb: 10:03am On Apr 03, 2012
Haaa! Only in Naija....
Re: Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by smithoo(m): 10:07am On Apr 03, 2012
Sanusi will be making serious calls to acertain what went wrong and also ensure this man is not freed for too long
But God pass them. Please dont blame the SAN they are paid to delay justice. The Judge saw this and decided to discharge the man.
If you have concrete evidence against a man why delay justice.
Re: Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by shedyman: 10:50am On Apr 03, 2012
The source of the news was not indicated so I doubt it's veracity. Being that as it may however, i think the federal govt is wasting tax payers money on this institution called the EFCC, it is not a coincidence that high profile economic crimes are being thrown out of our courts owing 2 incompetent prosecution. The EFCC should upgrade it's investigation mechanism by introducing forensic investigations & only perfect the brief of lawyers on the premise that they secure a conviction or better still prosecute diligently.
Re: Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by DisGuy: 10:55am On Apr 03, 2012
Those SANs should be named, shamed and blacklisted if possible made to refund the cost!!

never heard a judge use the word incompetence so many times grin

they should be de-SANned!! they are just feeding fat
Re: Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by PeeDaVinci: 11:06am On Apr 03, 2012
could this be a case of corrupt judge(s) or incompetent SAN(s)
Re: Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by gegee(m): 11:30am On Apr 03, 2012
incompetent useless SANs !! five for that matter u can imagine angry
Re: Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by rolchi(m): 11:31am On Apr 03, 2012
walcolm:

he is not taking back anything. he is guilty of most of the charges its just that the useless lawyers in this country are messing up the whole thing and that is why the pronouncements of the Judge in dismissing this particular charade is heart warming

Exactly! Now, we are beginning to see what GEJ saw in approving the suspension of the former PCA. The Judiciary is wholesomely corrupt and they must reform now! NBA over to you! This is another blow to that noble profession. Try this case in London, Erastus is heavily Guilty...otherwise, why did he flee in the beginning?! The EFCC has been infiltrated by corruption...GEJ saw this and removed Farida, people lashed him for not following process of going to the Senate. This is another proof!

Nigeria, after GEJ, will become better!

NBA cut the show and REFORM NOW!
Re: Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by atasteve: 11:35am On Apr 03, 2012
It is alarming how 5 SAN couldn't conclude the case.
Re: Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by rolchi(m): 11:37am On Apr 03, 2012
PeeDaVinci: could this be a case of corrupt judge(s) or incompetent SAN(s)
Dis Guy: Those SANs should be named, shamed and blacklisted if possible made to refund the cost!!

never heard a judge use the word incompetence so many times grin

they should be de-SANned!! they are just feeding fat

@bolded: grin grin grin Exactly bro!

These lawyers sef? They will be the ones to lambast every government policy and again be the ones to woefully disappoint Nigerians!

So, whom do we cry to? oh Judiciary!!!
Re: Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by forkadict(m): 11:52am On Apr 03, 2012
Who can tell for sure if this judge and his judgement have not been bought?

But let me give him (the judge)the benefit of the doubt. Can anyone please tell me what the fork is wrong with EFCC and the olodo, idio.tic SANs they keep engaging to prosecute money luandering suspects time and again without being able to secure a convincing and well deserved conviction? Since EFCC's inception, i can't recollect any money laundering case that was prosecuted and closed satisfactorily. What kind of country is this? Reading all these news get me depressed and make me conclude that things can never be well again in naija. Can anyone please allay my fears? For how long will we as a nation continue to start corruption in the face and refuse to act? For how long are we going to continue to hope that our situation can be better in naija without doing anything about the prevailing level of corruption?

Eleyi su mi o.
Re: Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by akpanbaba: 12:07pm On Apr 03, 2012
Thank God for Erastus Akingbola.My prayer is that nigerians who were celebrating the coming of Boko Haram in financial sector will know the truth about what Sanusi stands for.I pray that it will not be too late.We are yet to fathom out the level of destruction Sanusi has caused banking industry.

1 Like

Re: Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by knowledge4(m): 12:11pm On Apr 03, 2012
It simply means that the EFCC and the CBN has been witch hunting innocent persons
It means that there is nothing like corruption going on in Nigeria
It means that the EFCC should be wound up since there is nothing like corruption
When it is now clear that there is no corruption,then the EFCC has no business arresting and prosecuting people for corruption.
When there is no corruption as the courts seem to be saying, then on what basis is the EFCC and the CBN prosecuting the Bank MDs?

1 Like

Re: Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by mcnepow(m): 12:12pm On Apr 03, 2012
PeeDaVinci: could this be a case of corrupt judge(s) or incompetent SAN(s)
I'ld place it more on the head of the incompetent SA(s)N undecided
Re: Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by sirp2007: 12:19pm On Apr 03, 2012
l believe prosecution process/method is one big factor in d fight against corruption.Most high profile cases get watered down once they get 2 court due to unnecessary delay,filing and counter filing.we need to overhaul our judiciary process.
Re: Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by emsquare(m): 12:40pm On Apr 03, 2012
Ninilowo: Akingbola and Ibru wwere just victims of victimazation from the higher forces.
I congratulaate him anyway.

Yep!
Re: Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by andyanders: 1:08pm On Apr 03, 2012
That's a game plan by all involved. The judge inclusive. They must have been settled up to the top by Akingbola. Do you how much involved? With money, you can buy a Supreme Court Judge. That's what Tony Montana said. So, let us not look both ways as the presiding judge can come and discredit the prosecuting lawyers and tag them anything because all have been settled for life. Understand the amount involved here gentlemen and ladies.

Money is power and if you have the money here, nothing you cannot but with the Nigerian Legal System. Take Ibori's issue as a study case. He was dismissed here. It took the legal expertise of the British to get conviction.

Nigeria is a country that ONLY those who stole goat get convicted. If you want to steal, empty Central Bank. That is how rotten the system in Nigeria works. Only poor person get convicted. It is a pity because these rogues we call our leaders has mortgaged the future of the younger generation.
So Akingbola's issue is nothing. Let this government stop deceiving people and say they are fighting corruption. They are the one encouraging corruption.
Re: Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by juman(m): 1:20pm On Apr 03, 2012
The minister of justice is not competent. The government need to replace him.

The minister is a waste of time and resources of the nation.
Re: Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by PHIPEX(m): 1:41pm On Apr 03, 2012
I pity Sanusi, this man will come for his pound of flesh. But it's sad to lose ur investment due to d policies of a political appointtee.
Re: Erastus Akingbola: Fmr Intercontinental Bank MD Freed Over ₦47.1B Fraud by obayaya(m): 1:54pm On Apr 03, 2012
Ninilowo: Akingbola and Ibru wwere just victims of victimazation from the higher forces.
I congratulaate him anyway.



Political victimization? I doubt!!!! But how did all of sudden 5 SAN 4got court procedures!!! There's something fishy about that judgement!!!

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