N47.1 Billion Theft: Court Dismisses Charges Against Akingbola Over Shabby Prosecution.

A Federal High Court in Lagos has dismissed the criminal charges against a former managing director of Intercontinental Bank, Erastus Akingbola for shabby prosecution.

Akingbola was arraigned by the Economic and Financial Crimes Commission for allegedly stealing N47.1b from the bank.

Akingbola was standing trial alongside one of his associates, Mr. Bayo Dada, over alleged stealing of N47.1 billion brought against them by the EFCC had claimed, through his lawyer, Chief Felix Fagboungbe, SAN, that unless they were provided with original of the documents in the office of Tropics Finance Limited (where Akingbola reportedly have interest), he would not be able to prosecute his defence.

The presiding judge, Justice Charles Archibong also directed the Attorney-General of the Federation and Minister of Justice, Mohammed Adoke, to disband the prosecuting team led by five Senior Advocates.

"I direct the AGF to disband, sack and debrief the present prosecution team of five SANs and their respective firm for being incompetent in the prosecution of the charges against the accused before this court."

"I direct the AGF to disband the team for serious abuse of process. They are a drain in the public purse, a fact the AGF should be mindful of now if he was not before. This prosecution team have chosen to pursue a campaign to scandalise the court. This amounts to serious and professional incompetent on the prosecution of the accused."

"This prosecution team or any part of it shall not be given any further audience in this court in relation to the charges against this accused either before this presiding judge or any other judge of the Federal High Court for the reason I have given in the foregoing."

“Furthermore, I take judicial notice that the accused is presently facing charges before the Lagos High Court emanating from his tenure as Managing Director and Chief Executive Officer of Intercontinental Bank Plc, the AGF may wish to regain control of this process. This he can of course do at anytime of his choice."

Akingbola still faces charges before the Lagos High Court emanating from his tenure as Managing Director and Chief Executive of Intercontinental Bank