Intercontinental Bank: How Saraki, Imoukhuede, Wigwe loans led to Akingbola’s prosecution

A Federal High Court, Lagos, today, heard how billions of naira loans taken by the Senate President, Bukonla Saraki and others from the defunct Intercontinental Bank Plc, led to the prosecution of the bank’s former managing director, Dr. Erastus Akingbola. Akingbola is being tried by the Economic and Financial Crimes Commission (EFCC) in an amended 22 counts charge. At the resumed hearing of the matter today, the prosecution witness, Mr. Abdulraham Jimoh, while being cross examined by Chief Wole Olanipekun (SAN), admitted that a company linked to the Senate President,…

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Breach of trust: Court slams Access Bank With N4.7m damages

A Federal High Court sitting in Lagos, southwestern Nigeria, has ordered Access Bank Plc to pay the sum of N4.7 million to two Lagos-based Businessmen for breach of trust and gross negligence. Justice Abdulazeez Anka made the order while delivering judgement inĀ  a three years old suit filed by Chief Kolade Oluwole Ogunbiyi and Aremo Michael Oladipupo Ogunbiyi against the bank over illegal debiting of their company’s account, breach of trust and gross negligence in the way and manner their account was handled by the bank. In a statement of…

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Police slams Access Bank MD, Herbert Wigwe, Bank, 2 others with criminal charge

The Special Fraud Unit (SFU) of the Nigeria Police Force, Ikoyi-Lagos, has charged Mr. Herbert Wigwe, the managing director and chief executive officer of Access Bank Plc, his bank and two others before an Ogun State High Court, Sagamu, on 21 counts criminal charge. Those charged alongside Wigwe and Access Bank Plc, before Justice N. I. Agbelu led-court are: 41 years old Alawode Oluseye and Bayo Adesina. Wigwe and others are facing charges bordering on conspiracy, fraudulent disposal of trust property, fraudulent conversion, stealing and false representation. SFU in the…

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