EFCC Recovers N25 Billion Bank Debts, Interpol To Arrest Akingbola

Ahaziah Sulyman, Lagos

Nigeria’s anti-graft agency the Economic and Financial Crimes Commission, EFCC, has so far recovered over 25 billion Naira from debtors of five banks whose management were sacked recently.

Addressing a Press Conference in Lagos, the EFCC Chairman, Mrs Farida Waziri said 16 bank Executives have been arrested while 68 debtors were now in the custody of the Commission.

She said she was not aware of any state government that is indebted to the affected banks.

Mrs. Waziri however, said the EFCC has written to the Corporate Affairs Commission to furnish her agency with details of ownership of some companies that are indebted to the Banks.

The EFCC Boss disclosed that the sacked Chief Executive of Intercontinental Bank; Erastus Akingbola who is now on the run, would be arrested by the track down by the Interpol.

Mrs Waziri said contacts have been made with Interpol to assist Nigeria arrest Mr Akingbola anywhere in the world as he has been declared wanted by the EFCC.

Litigation

The suit filed by the former Managing Director of Inter-Continental Bank, Erastus Akingbola against his removal by the Central bank of Nigeria will come-up for hearing on the 14th of next month at a Federal High Court in Lagos.

The date was fixed by Justice Abdullahi Mustapha, who transferred the matter to another Judge, Justice Ibrahim Auta in view of his pending retirement.
Mr Akingbola is on the wanted list of the Nigerian Government.
Commendation
Meanwhile, Counsel to the Plaintiff, Mr. Mike Igbokwe, has expressed satisfaction with the decision of Justice Mustapha, to transfer the case to another Judge.

Mr. Igbokwe said that his client was demanding fifty million Naira as damages from the Central Bank and its Governor for what he described as illegal sack.

He added that his client was currently abroad on medical appointment.
Counsel to the respondents, Chief Kanyin Ajayi, said that the Central Bank acted legally to ensure that the nation’s financial system did not collapse.

Mr Akingbola secured the services of two Senior Advocates of Nigeria and sixteen other attorneys to handle his case.
Man Hunt

Operatives of the Economic and Financial Crimes Commission, EFCC have begun the search for more bank loan defaulters, two days after the expiration of the ultimatum given them by the Commission.


The EFCC spokesman, Mr. Femi Babafemi, said that companies of the defaulters might be sealed if the debts are not paid.

Qasim/ Austeen