Akingbola to remain in EFCC custody
A Federal High
Court in Lagos on Friday ordered that the former Managing Director of
Intercontinental Bank Plc, Erastus Akingbola, should remain in the
custody of the Economic and Financial Crimes Commission (EFCC).
Mr Akingbola is
standing trial before Mohammed Idris on a 22-count charge of
mismanagement of depositors’ funds and money laundering. The accused
was to have been arraigned on Thursday, August 12, but the court did
not sit because of the absence of the judge.
Mr Akingbola’s bail
application by his lead counsel, Felix Fagbohungbe, was opposed by
Godwin Obla, the EFCC’s counsel. Mr Fagbohungbe, in applying for bail,
said that the offences Mr Akingbola was charged with were bailable.
The prosecuting
counsel, however, objected to the bail application, arguing that he was
served the notice on Thursday and would need some time to respond to
the motion.
Mr Obla also noted
that the prosecution had a court order to remand the accused in custody
for 14 days, to allow for proper investigation by the anti-graft agency.
Mr Idris consequently ordered the accused to be remanded in EFCC custody but assured of an accelerated trial in the case.
Mr Akingbola, who
returned to Nigeria on August 3, after a year of self-exile in London,
had earlier been declared wanted by the EFCC.
Mr Idris adjourned the matter till August 23 for the hearing of the bail application.
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