How Akingbola stole N21billion-EFCC

Economic and Financial Crimes Commission (EFCC) operative and second prosecution witness, Nkechi Ibekaku, yesterday explained at a Lagos High Court, Ikeja how the former Managing Director of the defunct Intercontinental Bank Plc, Dr. Erastus Akingbola  allegedly siphon billions of Naira  out of the bank’s Nostro accounts without corresponding credit in his personal accounts.

The EFCC operative told the court presided over by Justice Habeeb Abiru there was no evidence or documents authorising all the transactions.

Ibekaku, who was led in evidence by counsel to the EFCC Mr. Emmanuel Ukala, claimed that Akingbola only gave verbal instructions for the transactions and that all the money were traced into bank accounts of companies in which Akingbola, his wife, Victoria, have interest and the duo and Bayo Lawal are signatories.

Ibekaku, who said that the commission took statements from the Chief Inspector of the bank, Mr. Abdulraheem Jimoh,  also told the court that £8.5 million was transferred from the bank’s pound sterling Nostro Account into the account of United Kingdom based Fulgers Solicitors of England.