The special anti-fraud unit of the Nigerian police today in Lagos arrested the former managing director of InterContinental Bank, Mahmoud Lai Alabi, for fraud related to a questionable loan write-off.

Mr. Alabi’s arrest followed a petition submitted to the unit by the brother of a whistleblower who was allegedly assassinated by hired killers for revealing shady dealings involving Bukola Saraki, the once-powerful governor of Kwara state who is now a senator.

Sanusi Lamido Sanusi, current Governor of the Central Bank of Nigeria (CBN), had appointed Mr. Alabi to run InterContinental Bank at the start of the CBN’s controversial banking reform. The reform began with the CBN’s sacking of several commercial bank chief executives deemed to be linked to corruption, and the appointment of new CEOs by Mr. Sanusi.

However, the appointment of Mr. Alabi raised serious concerns at the time. Mr. Alabi had served as the managing director of Songa Farms which is owned by the Saraki family. Mr. Saraki's businesses owed some 32 billion naira to InterContinental Bank.

http://saharareporters.com/news-page/former-bank-executive-arrested-writing-massive-loan-sarakis

if it is true then he is in for big trouble..any source please.

Www.saharareporters.com

Na today yansh start to dey dey bank? Some of thise appointed MD messed up the banks more while they were there cos they saw it as an opportunity to amass wealth. I once wrote on one of the threads on SLS that I never trusted him because despite all petitions concerning these MDs, CBN did nothing. It is however unfortunate that people go this far even up to murder all to get their missions accomplished.

Wow, this is serious. Accessory to murder.

GboyegaD: Na today yansh start to dey dey bank? Some of thise appointed MD messed up the banks more while they were there cos they saw it as an opportunity to amass wealth. I once wrote on one of the threads on SLS that I never trusted him because despite all petitions concerning these MDs, CBN did nothing. It is however unfortunate that people go this far even up to murder all to get their missions accomplished.

I pray fervently that one day you will obtain the wisdom to differentiate between 'allegations' and 'facts'.

Education is not just about solving advanced calculus and writing term papers. One expects every literate Nigerian to understand the basic principle of law called 'Innocent until proven guilty'.

Who gives a fhuck!!!

The nigga would be freed after a 3 - 6months long court battle. . The ineffiecient Nigerian Police and their fellow useless colleague 'THE ATTORNEY GENERAL' would go to court and either not provide evidence or be too lazy to pursue the case. . .

In the last 12 years of democracy that has been characterized by massive corruption, this is a breakdown of our fight against corruption so far;

Conviction;
1. Bode George
2. Cecilia Ibru
3. Tafa Balogun
4. Alamiesigha Diepreye.

Arrested tried but no conviction;
1. Dimeji Bankole
2. Case against Halliburton
3. Gbenga Daniels
4.


To be continued. . . .

Tell me what big trouble can one get into when you steal money in Nigeria!

Kennyblues: if it is true then he is in for big trouble..any source please.

i hope and pray this will not be swept under the carpet as usual.

GboyegaD: Na today yansh start to dey dey bank? Some of thise appointed MD messed up the banks more while they were there cos they saw it as an opportunity to amass wealth. I once wrote on one of the threads on SLS that I never trusted him because despite all petitions concerning these MDs, CBN did nothing. It is however unfortunate that people go this far even up to murder all to get their missions accomplished.

This is one blot on SLS image that has continued to be glossed over. However it is one that makes me uncomfortable to hail the man a messiah despite what his fans say. He chased the likes of Ibru and Akingbloa and replaced them with alleged crooks who stole with reckless abandon. At least the likes of Ibru stole with ease, these CBN appointed CEOs stole as if they had deadlines.

fm7070: i hope and pray this will not be swept under the carpet as usual.

spare your hope and prayer for more realistic things.

Careful pple,these are strong allegations,murder is involved here,which is d highest crime known,so substantial proof shd b fd b4 we all start losing our heads.
What I smell here is a mix of blackmail,greed,political games,while not absolving anyone of guilt in d allegations.As I av always sed,d nigerian politician is anoda species altogether.Anywhere I see d name of any of dis 4th republic bunch mentioned in any scandal,my 1st instinct is not to rule it out,nothing is beyond dem,evn wt scant details in dis post,nothing is impossible.No mata how heinous d allegation is, nothing has bn impossible in dis land for d past 10yrs.

mbulela:
This is one blot on SLS image that has continued to be glossed over. However it is one that makes me uncomfortable to hail the man a messiah despite what his fans say. He chased the likes of Ibru and Akingbloa and replaced them with alleged crooks who stole with reckless abandon. At least the likes of Ibru stole with ease, these CBN appointed CEOs stole as if they had deadlines.

Count the amount of people with a CV good enough to take over any of the banks and tell me if any can be trusted 100%.

Lai Alabi has been used as an interim CEO by Soludo before at WEMA bank remember?

Sanusi's prerogative is to make sure that wayward CEO's will be punished to set standards. I dont think even you (Mbulela) could appoint a bank MD whom you could stake your life on, so how can Sanusi do so? If Lai Alabi Bleep up, he will be punished same as others until there is enough disincentive for everyone in the industry to refrain from dodgy dealings.


@ topic,

The investigation should be moved beyond fraud, and see if Lai Alabi can be charged with murder.

Wao dis is a serious case

LOL!!!! Nigeria is run by crime lords, i tell ya! Even the banks are not safe from looters! Upside down country.

Wel it should‘nt burda me cos dey all knw dem self,bfor u knw it he wil b releasd so wht‘s d ned

mbulela:
This is one blot on SLS image that has continued to be glossed over. However it is one that makes me uncomfortable to hail the man a messiah despite what his fans say. He chased the likes of Ibru and Akingbloa and replaced them with alleged crooks who stole with reckless abandon. At least the likes of Ibru stole with ease, these CBN appointed CEOs stole as if they had deadlines[font=Lucida Sans Unicode][/font].

of course they had deadlines!

anyway this is a crack in the well oiled machines of the anti man, sanusi, the beginning of his imminent downfall

Sanusi/Aig-Imuokhuede,two hardened criminals
This arrest was at the behest of the thieves(Aig Imokhuede/Herbet Wigwe and the owners of the old access bank,that Sanusi stole and dashed intercontinental bank to

I laff

Ranks007: Tell me what big trouble can one get into when you steal money in Nigeria!

pls tell him o. Especially when d money stolen is BIG. in nigeria, when u want to steal, steal big!

Since they were hand picked, then maybe they will be giving returns to the Apex manager who appointed them.

texazzpete:

I pray fervently that one day you will obtain the wisdom to differentiate between 'allegations' and 'facts'.

Education is not just about solving advanced calculus and writing term papers. One expects every literate Nigerian to understand the basic principle of law called 'Innocent until proven guilty'.

Again, Sir, you post one of the most disgusting, badly researched, and excessively myopic responses one would ever come across on the web, not just the N/L.
Oh, now we should remember the principle of "innocent until proven guilty" after arguing with your ilks about the evilman called Sanusi and his 'shoot them at sight' philosophy, you're finally cowerring into "innocent until proven guilty"--Really.
You praised Sanusi for going around calling people thieves, rogues, book-cookers even before any sort of trial, and now you want "innocent until proven guilty"??
Even before Ibru's Oceanic bank was stolen by this Sanusi mafia, and Akingbola clearly told us by petition and court documents that Sanusi was acting a script written for him by the corrupt Saraki clan of Kwara, we knew that Sanusi and his tribal, paid, and religious praise singers like you are no good to our nation.

Dark[img]http://www.spgames.info/g.gif[/img]

mbulela:
This is one blot on SLS image that has continued to be glossed over. However it is one that makes me uncomfortable to hail the man a messiah despite what his fans say. He chased the likes of Ibru and Akingbloa and replaced them with alleged crooks who stole with reckless abandon. At least the likes of Ibru stole with ease, these CBN appointed CEOs stole as if they had deadlines.

I respect your change of position and honest opinion about Sanusi. We have seen that all that glitters, especially if they have bow ties, are not really banking gold.

Ibime:

Count the amount of people with a CV good enough to take over any of the banks and tell me if any can be trusted 100%.

Lai Alabi has been used as an interim CEO by Soludo before at WEMA bank remember?

Sanusi's prerogative is to make sure that wayward CEO's will be punished to set standards. I dont think even you (Mbulela) could appoint a bank MD whom you could stake your life on, so how can Sanusi do so? If Lai Alabi Bleep up, he will be punished same as others until there is enough disincentive for everyone in the industry to refrain from dodgy dealings.


@ topic,

The investigation should be moved beyond fraud, and see if Lai Alabi can be charged with murder.

mbulela:
This is one blot on SLS image that has continued to be glossed over. However it is one that makes me uncomfortable to hail the man a messiah despite what his fans say. He chased the likes of Ibru and Akingbloa and replaced them with alleged crooks who stole with reckless abandon. At least the likes of Ibru stole with ease, these CBN appointed CEOs stole as if they had deadlines.

I respect your change of position and honest opinion about Sanusi. We have seen that all that glitters, especially if they have bow ties, are not really banking gold.

@Ibime,
Please remember for someone who condemned Soludo for being too close to former CEOs, you and Sanusi should have the perfect method of picking officers who would deliver, unless delivary and good performance was not the goal initially.

This is so we know that sanusi is an eediot responsible for sending graduates home and reducing employment, increasing inflation and appointing paddy paddy crooks!

ifeci: This is so we know that sanusi is an eediot responsible for sending graduates home and reducing employment, increasing inflation and appointing paddy paddy crooks!

CBN did bad job by appointing their paddy paddy guys.

I don't think the president is serious about anti corruption.

GAB1: The special anti-fraud unit of the Nigerian police today in Lagos arrested the former managing director of InterContinental Bank, Mahmoud Lai Alabi, for fraud related to a questionable loan write-off.

Mr. Alabi’s arrest followed a petition submitted to the unit by the brother of a [b]whistleblower who was allegedly assassinated by hired killers [/b]for revealing shady dealings involving Bukola Saraki, the once-powerful governor of Kwara state who is now a senator.

Sanusi Lamido Sanusi, current Governor of the Central Bank of Nigeria (CBN), had appointed Mr. Alabi to run InterContinental Bank at the start of the CBN’s controversial banking reform. The reform began with the CBN’s sacking of several commercial bank chief executives deemed to be linked to corruption, and the appointment of new CEOs by Mr. Sanusi.

However, the appointment of Mr. Alabi raised serious concerns at the time. Mr. Alabi had served as the managing director of Songa Farms which is owned by the Saraki family. Mr. Saraki's businesses owed some 32 billion naira to InterContinental Bank.

http://saharareporters.com/news-page/former-bank-executive-arrested-writing-massive-loan-sarakis

Even a man was supposedly killed because of money!

People are so deep in deception about this world!!!

Ibime:

Count the amount of people with a CV good enough to take over any of the banks and tell me if any can be trusted 100%.

Lai Alabi has been used as an interim CEO by Soludo before at WEMA bank remember?

Sanusi's prerogative is to make sure that wayward CEO's will be punished to set standards. I dont think even you (Mbulela) could appoint a bank MD whom you could stake your life on, so how can Sanusi do so? If Lai Alabi Bleep up, he will be punished same as others until there is enough disincentive for everyone in the industry to refrain from dodgy dealings.


@ topic,

The investigation should be moved beyond fraud, and see if Lai Alabi can be charged with murder.

Ibime, no make me talk for public o!
If you know half of what at least 2 of these men were during their tenure you go weak.
If outsider like me could get concrete proof of their plundering tendencies, you can't tell me SLS was unaware.What did he do? Nothing.

mbulela:
Ibime, no make me talk for public o!
If you know half of what at least 2 of these men were during their tenure you go weak.
If outsider like me could get concrete proof of their plundering tendencies, you can't tell me SLS was unaware.What did he do? Nothing.

Why you dey fear to talk for public?

Talk make we hear. . . . abi MTN go give Alabi your details?

Talk abegiii!!!

Just remember that SLS is not AIG of Police. He cannot arrest everybody, only those who bring their banks to liquidation, if not he would sack every single manager in banking industry.

Abi you think the other bank MD's were not chopping?

If you see as Aig-Imuokhode of Access bank dey shove assets for London, you sef go fear!

Yorobouas and bank fraud

texazzpete:

I pray fervently that one day you will obtain the wisdom to differentiate between 'allegations' and 'facts'.

Education is not just about solving advanced calculus and writing term papers. One expects every literate Nigerian to understand the basic principle of law called 'Innocent until proven guilty'.

Thanks a lot. In this case, what I said were the allegations levied against the appointed MD who amassed wealth and CBN doing nothing. As for the concluding remarks, it was a general statement thus, I would appreciate you read through post well enough before jumping into conclusions.

Naija press!!! Well, from a liable...,M. L. Alabi was not arrested by anti-fraud unit but he was called for questioning yesterday (Wednersday) 18 -04 - 12. The news in the media are nothing to write home about. Because similar accusation was raised by Akingbola when Alabi was in-charge of Intercontinental. Mind u, Shonga Farm didn't below to Bukola Saraki.

I think, the press need to do more research before writing their story. At moment M. L. Alabi is with his family.

emuje: Naija press!!! Well, from a liable...,M. L. Alabi was not arrested by anti-fraud unit but he was called for questioning yesterday (Wednersday) 18 -04 - 12. The news in the media are nothing to write home about. Because similar accusation was raised by Akingbola when Alabi was in-charge of Intercontinental. Mind u, Shonga Farm didn't below to Bukola Saraki.

I think, the press need to do more research before writing their story. At moment M. L. Alabi is with his family.

Sorry, oh, Mr. Alabi's official rep; but I didn't see a link supporting your own self-assured side of the story here. Or, Oga just told you so?