Intercontinental Bank Sacks 1,500 Workers – The Guardian
December 19, 2009 by tim · Comments Off
Barely a week to the Christmas, Intercontinental Bank Plc yesterday gave unusual gifts to 1,500 members of its staff: “Letter of disengagement from the bank.
The sack letters were served to the affected staff around 3 p.m. yesterday, changing the atmosphere in the financial institution’s banking hall throughout the country to that of shock and disbelief. Those affected were from the position of manager to executive banker level.
I did not misappropriate any funds, says AkingbolaI did not misappropriate any funds, says Akingbola – The Nation
December 7, 2009 by tim · Comments Off
The former Executive Vice Chairman/CEO of Intercontinental Bank Plc, Dr. Erastus. Akingbola, has denied misappropriating any funds belonging to the bank. Akingbola, said in a statement issued yesterday, that he regarded what has happened as a deliberate attempt to deceive the public and damage his reputation.
Akingbola, ex-directors in fresh trouble over N50b loans, bonuses – The Nation
November 29, 2009 by tim · Comments Off
The ex-Executive Vice-Chairman of Intercontinental Bank, Mr. Erastus Akingbola, and five directors are in fresh trouble following new discovery of about N50billion worth of strange bonuses and loans.
It was also learnt that judges’ vacation is delaying the extradition of Akingbola.
Akingbola in Secret Negotiation with EFCC – Thisday
Some eminent Nigerians said to be very close to Erastus Akingbola, the sacked Group Managing Director/Chief Executive Officer of Intercontinental Bank Plc, have on behalf of the former bank chief, opened up negotiation with the Economic and Financial Crimes Commission on how to facilitate his return to the country.
EFCC probes diversion of govt’s shares for N44b loan – The Nation
September 9, 2009 by tim · Comments Off
How was a state government’s shares used to obtain a N44billion private loan?
This is the riddle the Economic and Financial Crimes Commission (EFCC) is battling to resolve.
The commission has uncovered how N528.010m Delta State Government shares in Oceanic Bank were used to guarantee over N44billion granted Ascot Offshore Nigeria Limited by Intercontinental Bank Plc.
Recovered Bank Debts Hit N70bn – Thisday
September 9, 2009 by tim · Comments Off
The Economic and Financial Crimes Commission (EFCC) has so far recovered over N70 billion from individuals and corporate organisations owing the five banks whose chief executives were recently sacked by the Central Bank of Nigeria (CBN).
Surrender Now, Waziri Appeals To Akingbola – Daily Independent
September 8, 2009 by tim · Comments Off
Accuses Stockbrokers Of Share Price Manipulation
Stockbrokers are culpable in the bank crisis, Economic and Financial Crimes Commission (EFCC) Chairman, Farida Waziri, disclosed on Monday, with a promise to prosecute those of them who manipulate share prices and distort the market.
EFCC Intensifies Search for Akingbola – Thisday
September 6, 2009 by tim · Comments Off
Economic and Financial Crimes Commission (EFCC) has intensified search for the former Managing Director of Intercontinental Bank Plc, Mr. Erastus Akingbola following a tip-off that the sacked bank chief who has since been declared wanted by the anti-graft commission has sneaked back into the country.
Ex-bank chief can’t account for N37.8bn – The Nation
September 5, 2009 by tim · Comments Off
A detained former bank executive cannot account for N37.844billion allegedly transferred out of his bank’s deposit, The Nation learnt yesterday. Another has £1.8million in a United Kingdom account.
Yet, another cannot account for $5million also transferred out of his bank’s deposit.
These three discoveries by the Economic and Financial Crimes Commission (EFCC) are some of the highlights of the anti-graft agency’s findings in the last 72 hours.
Bank Chiefs to Remain in Custody Till Sept 14 – Thisday
Hopes that a Federal High Court in Lagos would grant bail to the detained directors of the five banks ousted three weeks ago by the Central Bank of Nigeria were dashed yesterday as the presiding judge, Justice Dan Abutu, fixed September 14 and 15, 2009 for ruling on their bail applications.
