Friday, 2 January 2015

Appeal Court frees Erastus Akingbola of N47.5billion theft charge

A Court of Appeal sitting in Lagos has nullified the 22-count charge brought against the former Managing Director of Intercontinental Bank Plc, Dr. Erastus Akingbola by the Economic and Financial Crimes Commission (EFCC).

The EFCC had alleged that Akingbola stole N47.5 billion belonging to the bank, but ruling on Akingbola's application on jurisdiction, the court presided over by Justice Amina Augie held that the High Court of Lagos State presided over by Justice Lateef Lawal-Akapo lacked jurisdiction to entertain the suit filed against him by the commission.

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