N47.1bn theft: Lagos CJ transfers Akingbola’s case to new judge

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The trial of a former Managing Director of Intercontinental Bank, Erastus Akingbola and his associate, Bayo Dada, was on Thursday transferred to a new judge.

The Chief Judge of Lagos State, Justice Ayotunde Phillips, re-assigned the case to Justice Lateef Lawal-Akapo for trial.

This followed the transfer of the former trial judge, Justice Adeniyi Onigbanjo, to the Commercial Division of the Ikeja High Court.

The case was previously re-assigned to Onigbanjo, after the first trial judge, Justice Habeeb Abiru, was elevated to the Court of Appeal on Nov. 2.

The News Agency of Nigeria (NAN) reports that this is the second time the case will be re-assigned since the defendants were arraigned by the Economic and Financial Crimes Commission (EFCC).

The defendants are standing trial on a 22-count charge of conspiracy and stealing of N47.1 billion belonging to the Intercontinental Bank (now Access Bank Plc).

NAN reports that the defendants were first arraigned on May 31, 2011 before Abiru on the same charges.
They had pleaded not guilty to the charges and the judge granted Akingbola bail in the sum of N100 million with two sureties in like sum.

He also granted Dada a N50 million bail with two sureties in like sum.

The trial, which was at the stage of adoption of final written addresses by the parties, was aborted as a result of Abiru’s elevation.

Consequently, Akingbola and Dada were re-arraigned before Onigbanjo on Feb. 26, 2012 and the matter started afresh.

They had again pleaded not guilty to the charges and were granted bail with the terms earlier given to them by Abiru.

Meanwhile, no date has been fixed for their re-arraignment before Justice Lawal-Akapo.

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