The case against former Intercontinental (now Access) bank chief, Dr Erastus Akingbola on charges of theft of about N47.1bn continued today with the prosecution, the Economic and Financial Crime Commission (EFCC), formally closing its argument.
At the Lagos High Court, Ikeja, the former bank chief is standing trial along with one of his associate, Bayo Dada, the General Manager of Tropics Securities Limited.
Dr Akingbola initially had a 29 count charge preferred against him but it was later reduced to 21 after the charges that were directly related to his wife, Anthonia, were dropped.
Coming after the charges instituted at the Federal High Court, Lagos which has since been dismissed, the trial before Justice Habeeb Abiru in Ikeja, has lasted about 10 months and recorded much progress.
During the time, the prosecution has called two witnesses, the Chief Inspector of Access Bank, Mr Abdulraheem Jimoh and Mrs Nkechi Ibekaku, a member of the EFCC’s team of operatives who conducted investigations on the banks activities.
Mrs Ibekaku had told the court that the second defendant, Bayo Dada did not produce any document to back all the transfers of money allegedly made by Dr Akingbola, which went into Tropics Securities Limited account and some other companies in which the former bank boss and his wife, Anthonia, have interests.
The EFCC operative who was being cross examined by Dr Akingbola’s counsel, Mr. Deji Sasegbon a Senior Advocate of Nigeria (SAN) told the court that as at the time the transactions were made, there was no money in the account of the former boss of the bank.
She also testified that three Skye Bank cheques which totalled N2.5 billion issued by Chartwell Securities Limited was an illegal transaction as Dr Akingbola remained the sole beneficiary even though the funds emanated from Intercontinental bank.
The EFCC witness also argued that the difference between the total sum of $11,797,063.75 mentioned by the prosecution and that of the burea-de- change put at $11,840,427.00 which was converted to pound sterling and transferred to the London account of Furghers Solicitors was not an attempt to mislead the court on the transaction as over $11 million was actually illegally transferred from the banks dollar account.
She stressed that the defence team had shown no document during investigation to show that there was a transaction from which Dr Akingbola was entitled to N10million as commission.
The trial judge, Justice Habeeb Abiru has adjourned the matter to the 21st of May when Dr Akingbola is expected to open his defence on the allegations he’s facing.
