The former managing director of Intercontinental Bank plc, Dr. Erastus Akingbola and a former director of the bank, Mr. Adebayo Dada stood for trial today at the Ikeja High Court. But the case was adjourned following the controversy over, whether or not the accused persons should take their plea.
Akingbola, his wife and Dada were charged to court by the Economic and Financial Commission (EFCC) for alleged mismanagement of fund and theft amounting to N47 Billion (Naira). Lawyer to the former bank chief, Chief Felix Fagbohungbe told the court this morning that the court headed by Justice Habeeb Abiru that Akingbola and Dada should not be compelled to enter the dock and take their plea since he has already applied for a stay of proceedings. Fagbohungbe said the cases that his client is being charged before Justice Abiru similar to others against the bank chief.
Akingbola’s wife was absent in court. EFCC have already declared her wanted.
Justice Abiru have adjoured Akingbola’s case till May 23
Francis Atuche the former Chief Executive of BankPHB will be charged to court on Tuesday 17 May 2011. Atuche will be charged alongside his wife, Elizabeth in a monumental bank fraud allegations against them.