The Economic and Financial Crimes Commission, EFCC, on Monday February 15,  made a fresh bid to re-arraign seven former directors of Intercontinental Bank Plc at a Federal High Court sitting in Lagos on an amended 20 count charge filed against them. The former directors are: Raymond Obieri( Chairman); Hyacinth Enuba; Christopher Adebayo Alabi; Samuel Adegbite; Isyaku Umar; Bayo Dada and Sani Adams. Muslim Hassan, EFCC’s lead counsel told the court  that an amended charge containing twenty count charges had been filed before the court and the charges were to be substituted for the old charges. He also said that the Commission was relying on the old proof of evidence attached to the old charges. Quoting section 33 of the Federal High Court Rule which made allowances for summary trial in any criminal case, Hassan said that it was not mandatory for the EFCC to attach any proof of evidence to the charges imputed to the former directors. He requested that the new charges should be read to the seven accused persons and their plea be taken. This request was opposed by all the defence counsel in the court.  Chief Wole Olanipekun, SAN, referred the court to section 167 of the Criminal Procedure Act, which allowed a defence counsel in a criminal case to demand for ample time and facilities to respond to any formal defect noticed in a criminal charge brought against any accused person. He therefore prayed the court to stop reading the amended charges to his client and disallow any plea from being taken. All other defence counsel argued in favour of Olanipekun and the court ruled that objections to the amended charges be prepared by all the defence counsel and adjourned the matter till March 22, 2010.

 The EFCC had originally arraigned the former directors on an 18 count charge on August 31, 2010. The Commission amended the original charge owing to fresh information in its possession of alleged fraudulent transactions involving the former directors. Count one of the amended charge accused Obieri of using his position as a director in the bank to influence the granting of N8billion unsecured loan to a company, Harmony Trust and Investment Company Limited, a company in which he has substantial interest as a director. Other former directors of Intercontinental Bank accused of using their position to influence the granting of N8billion unsecured loans to companies where they had substantial interests are Enuha, Alabi and Umar.  With the new bid of the EFCC to re-arraign them, the trial of the former bank directors is bound to assume new dimension.