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Supreme Court orders resumption of Akingbola’s N5bn-mismanagement trial



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A former director of collapsed Intercontinental Bank has been ordered by the Supreme Court to face go back to a federal high court in Lagos for his trial.

Erasmus Akingbola is alleged of mismanaging N5 billion had his 26-count trial terminated in 2012 gy Justice Charles Archibong whose juudgement eventually led to his own compulsory retirement.

Justice Archibong then said EFCC prosecuting the banker against was not diligent in the handling of the case.

A February 20, 2015 judgment of the Court of Appeal in Lagos had overturned the earlier Federal High Court’s decision that ended the trial..

Justice Sidi Bage, who read the lead judgment of the Supreme Court, said Akingbola’s appeal lacked merit.

He ordered that the case be remitted to the Federal High Court and handled by another judge in the Lagos Division and be given “expeditions trial”.

A member of the apex court’s panel, Justice Kumai Akaahs, noted in his contribution that Justice Archibong acted like a military dictator in the 2012 judgement.

Akingbola’s management of the defunct bank hit the public during a recapitalisation campaign by CBN ex-Gov. Sanusi Lamido Sanusi.