Supreme Court Orders Akingbola To Face N5bn Fraud Trial

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The Supreme Court has directed the previous Managing Director of the defunct Intercontinental Bank Plc, Dr. Erastus Akingbola, to return to the Federal High Court in Lagos to face his trial on N5 billion fraud expenses.

The fraud trial was prematurely resulted in April 2012 by Justice Charles Archibong, whose choice within the case later earned him a obligatory retirement from the bench.

A five-man panel of the apex court docket led by Justice Tanko Muhammad unanimously affirmed the February 20, 2015, judgment of the Court of Appeal in Lagos which had overturned the Federal High Court’s choice putting out the fees.

Justice Sidi Bage, who learn the lead judgment of the apex court docket, stated Akingbola’s enchantment difficult the Court of Appeal’s verdict lacked advantage.

He ordered that the case be remitted to the Federal High Court and dealt with by one other decide within the Lagos Division and be given “expeditions trial”.

Justice Archibong (now retired) had in a judgment delivered on April 2, 2012 struck out the 26 counts contained in a cost numbered FHC/L/443C/2013 filed by the Economic and Financial Crimes Commission towards Akingbola on the grounds that the prosecution was not diligent within the dealing with of the case.

The decide had described the EFCC prosecution staff as a drain within the public purse and directed the Attorney-General of the Federation to disband the staff.

The decide’s choice within the case later earned him a obligatory retirement by the National Judicial Council.

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