10 Years After, EFCC Reopens Erastus Akingbola’s Trial - THISDAYLIVE via thisdaylive
The 10-year-old trial of a former Managing Director of the defunct Intercontinental Bank Plc, Dr. Erastus Akingbola has been reopened by the Economic and Financial Crimes Commission before the Federal High Court in Lagos.
The prosecution alleged that for instance, Akingbola recklessly approved a credit facility of N8 billion each to Soo-Kok Holding Limited; Tofa General Enterprises; Cinca Nigeria Limited; Harmony Trust and Investment Limited; Stanzus Investment Limited. In another instance, the prosecution alleged that under Akingbola’s watch as MD/CEO, Intercontinental Bank Plc had N87.6 billion non-performing credit burden.
“The letter was addressed to the Group Managing Director, Dr. Erastus Akingbola, and the letter was signed by one Mr. Bayo Dada and one Jackson.
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