Alleged N5bn Fraud: Supreme Court Orders Former Intercontinental Bank MD, Akingbola, to Face Trial
The Supreme Court Friday ordered a former Managing Director of the defunct Intercontinental Bank Plc, Dr. Erastus Akingbola, to return to the Federal High Court in Lagos to face trial on alleged N5billion fraud.
The Apex Court gave the order after it dismissed Akingbola’s appeal challenging the decision of the Court of Appeal for lacking merit.
The trial was prematurely terminated in April 2012 by Justice Charles Archibong, whose decision in the case later earned him a compulsory retirement from the bench.
Delivering judgment on the appeal, the five-man panel of the Supreme Court, 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 decision striking out the charges.
The court accordingly ordered that the case be remitted to the Federal High Court and handled by another judge in the Lagos Division.
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