FORMER BANK MD ARRAIGNED BY EFCC

Written by on March 14, 2019

The Economic and Financial Crimes Commission (EFCC) yesterday re-arraigned the former Managing Director of the defunct Intercontinental Bank PLC, Erastus Akingbola in a Federal High Court in Lagos, for alleged Money Laundering charges.

Akingbola, who pleaded not guilty, is charged by the EFCC with an amended 22 count charge bordering on the offence.

So far, the prosecutor, Rotimi Jacobs who informed the court of an amended charge filed by the prosecution urged the court to accept the charge and cause the plea of the defendant to be taken afresh.

The former Managing Director,was alleged to have between November 2007 and July 2008, created a misleading appearance of active trading in the shares of the bank in the Nigerian Stock Exchange (NSE).


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