Witness alleges how former bank chief, Erastus Akingbola bought London properties with £9.7m
told Justice Mojisola Olatoregun of the Federal High Court sitting in Ikoyi, how the defendant allegedly diverted funds from the bank and bought some properties in London for the total sums of £9.7m.
“The letter was addressed to the Group Managing Director, Dr. Erastus Akingbola and was attentioned to Mr. Olayinka Adebiyi, requesting the payment of N10billion, N1.2billion and N4.3billion to Tropics Securities Limited and other companies. In his further evidence, he said during investigation, he discovered, “That the defendant acquired properties in London with the sums of £8.5m and £1.2m allegedly diverted from the bank.“Monies were transferred to Soo-Kok Holdings Limited; Tofa General Enterprises; Cinca Nigeria Limited; Harmony Trust and Investment Limited; Stanzus Investment Limited.”
Further, Olanipekun told the court that the witness was misleading the court, adding that “The witness is not a witness of truth and, therefore, should not be believed by the court of his testimony.”
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Alleged Fraud: Trial Of Former Bank Chief, Erastus Akingbola Starts Afresh – Channels Television
Read more »
Alleged money laundering: EFCC re-arraigns ex-Intercontinental Bank chief, Erastus AkingbolaThe former bank chief was re-arraigned on a 22 count-charge.
Read more »
EFCC Amends Charges, Re-arraigns Former Bank Chief, Erastus Akingbola – Channels Television
Read more »
Fraud: Trial Of Former Bank Chief, Erastus Akingbola Starts AfreshOne year after he was ordered by the Supreme Court to return to the Federal High Court in Lagos to face his trial, the former Managing Director of the defunct Intercontinental Bank Plc, Dr. Erastus Akingbola has been re-arraigned before Justice Mojisola Olatoregun over allegations of fraud. Akingbola was first arraigned before Justice Mohammed Idris […]
Read more »
10 Years After, EFCC Reopens Erastus Akingbola’s Trial - THISDAYLIVEDavidson Iriekpen 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 (EFCC) before the Federal High Court in Lagos. The trial, in the charge marked FHC/L/CS/443c/09, reopened on Monday before Justice Mojisola Olatoregun. In the 26 counts …
Read more »
10 years on, EFCC reopens Erastus Akingbola’s trial
Read more »
EFCC Reopens Erastus Akingbola's 10-Year-Old Fraud Trial | Sahara Reporters.officialEFCC Reopens Erastus Akingbola's 10-Year-Old Fraud Trial | Sahara Reporters The EFCC said the illegal transactions were carried out between May 2008 and May 2009 in contravention of 'accepted practice or Intercontinental Bank Plc's..READ MORE:
Read more »
Nigeria election: PDP alleges vote-buying by APC, disruption of polls in Ondo - Daily Post NigeriaOndo State chapter of the People’s Democratic Party, PDP, has accused the All Progressives Congress, APC, of allegedly disrupting the voting process across
Read more »
EFCC arrests Kwara Chief of Staff, finance commissioner, AG, Sterling Bank officials, others - Daily Post NigeriaThe Economic and Financial Crimes Commission (EFCC) on Friday announced the discover of about N1billion cash withdrawal by the Kwara State Government from
Read more »