Court remands Akingbola’s associates in EFCC custody – The Nation
January 5, 2010 by Bunmi Awolusi
Justice Tijani Abubakar of the Federal High Court, Lagos yesterday ordered that six associates of the sacked Managing Director, Intercontinental Bank Plc, Dr. Erastus Akingbola, be remanded in an Economic and Financial Crimes Commission (EFCC) detention facility.
They include Mr. Akinkunmi Solomon Fabunmi (Financial Controller, Intercontinental Bank), Mrs. Toyin Odesile (Head, Domestic Operations) and Mrs. Ayoola Ayinde Olabisi (Head, Foreign Exchange).
Others are: Mrs. OluwaToyin Oyelade (Head, Corporate Treasury), Ayodele Thomas (General Manager, Intercontinental Capital Market Limited) and Bayo Dada (General Manager, Tropics Securities Ltd.)
The judge’s order was sequel to their arraignment on a 12- count charge bordering on money laundering and related offences.
In the charge filed by the EFCC, they were accused of alleged involvement in criminal conspiracy, fraudulent withdrawal, fraudulent conversion and illegal transfer of the bank’s funds estimated at about N27 billion, offences they allegedly committed between March and June, last year.
Also arraigned with them were five companies in which the directors, including Akingbola, allegedly have interests, and with which the accused persons purportedly siphoned the said funds from the bank.
The companies are: Regal Investment Limited, Tropics Securities Ltd, Tropics Properties Ltd, Tropics Finance and Investment Ltd and Bankinson Nigeria Ltd.
