The UK legal system seem to have started doing the job Nigeria legal system has failed to do, this is because a London High Court has found Dr. Erastus Akingbola, the erstwhile Managing Director of Intercontinental Bank Plc liable of unwholesome practices and misappropriation of the bank’s funds to the tune of N164 billion. The court described the purchase of “shares in a box” as an insider dealing which is not an accepted best practice in civilized business dealing.
The court found under cross examination that Mr. Erastus Akingbola told obvious lies that he did not know that the bank was buying its own shares. The court also ordered the former Managing Director of the defunct Intercontinental Bank Plc (now Access Bank Plc), Mr. Erastus Akingbola, to pay Access Bank Plc £654 million (about N164 billion) for some sharp and fraudulent practices committed when he was in charge of the bank.
This is the same person our legal system said is not guilty, wetin fit work for this country sef? maybe we go soon start to dey go UK courts if we need justice in this country.
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