A Federal High Court, will on April 2, deliver its ruling on whether or not the new charge filed against the former Managing Director of the Intercontinental Bank Plc, Erastus Akingbola, by the Economic and Financial Crimes Commission, was valid under the law.
Akingbola is standing trial before Justice Charles Achibong for offences ranging from granting of unsecured loans, misappropriation of funds to money laundering.
When proceedings resumed, an argument ensued between the EFCC’s counsel, M. Emmanuel Ukala and Akingbola’s lead cousel, Mr. Felix Fagboungbe SAN on the nature of the charge.
Fagbohungbe said “the accused person/applicant is being charged for offences which are unknown to law.”
He stated that it would be wrong to arraign Akingbola on the fresh charge filed before the court and stressed that it would be wrong to for the court to assume jurisdiction over the matter.
But Ukala urged the court to dismiss? Akingbola’s objection as it lacked merit. He argued that it was a ploy by the embattled banker to frustrate his trial and hopefully escape prosecution. He maintained that the charge was competent.
Justice Achibong thereafter adjourned the matter till April 2 for ruling.
Erastus Akingbola was re-arraigned before Justice Achibong by EFCC on November 29, 2010, sequel to the transfer of the case from Justice Idris Mohammed where Akingbola was first arraigned.