Alleged N47.6Bn Theft: EFCC Re-Arraigns Erastus Akingbola

The and Financial Crimes Commission, , on Tuesday, February 26, 2013 -arraigned a Managing Director and Chief Executive of Intercontinental Bank Plc Mr. Erastus Akingbola and one of its associates, Mr. Bayo Dada before Justice Adeniyi Onigbanjo of a Lagos High Court in Ikeja.

When the case came up today, the duo that were initially docked on Tuesday May 31, 2011, pleaded not the 22-count charge bordering on stealing N47.6billion.

After their pleas were taken,  counsel, Godwin Obla, reacting an application for bail filed before the court by counsel the first defendant, Chief Wole Olanipekun, SAN, said that the defendants could continue enjoy bail on the conditions granted them by Justice Habeeb . He, however, urged the court to accelerate the trial as the case has on going for a long time, more so when judgement was about to be delivered before it was -assigned to Justice Onigbanjo.

The new judge urged counsel involved in the case review the evidences and written statements previously provided so they can continue from where Justice stopped.  Olanipekun, who was represented in court by M .. Igbokwe, SAN, said that, owing the change of defence counsel, the court should give new trial dates allow the judge make a fair decision.

In his ruling, Justice Onigbanjo granted the two defendants bail on their previous bail conditions and adjourned the case till July 10, 11, 12, 13, 14 and 15, 2013.


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