by Rachel Ogbu

Former Managing Director of Intercontinental Bank Plc (now Access Bank Plc), Erastus Akingbola, will appear in court today, February 26.

The Economic and Financial Crimes Commission, EFCC re-arraigned him for allegedly stealing the bank’s money.

According to reports, in a statement on Monday, the EFCC said it had arrested Akingbola preparatory for his arraignment before Justice Adeniyi Onigbanjo of a Lagos High Court, Ikeja.

Yesterday the EFCC tweeted:

<<<<----------EFCC Arrests Erastus Akingbola: The EFCC has arrested former Managing Director of Intercontinental... fb.me/1qMcf1aD0

— EFCC Nigeria (@OfficialEFCC) February 25, 2013

“He (Akingbola) is currently being held at the Commission’s facility I Ikoyi, Lagos, preparatory to his arraignment tomorrow, February 26, before Justice Adeniyi Onigbanjo of the Lagos High Court on fresh charges of stealing,” it also stated on its official twitter handle.

The Punch reports:

The re-arraignment was necessitated by the elevation of former trial judge, Justice Habeeb Abiru, to the Court of Appeal.

The development caused the need to re-assign the case to another judge for it to start de novo (afresh).

In the former charges the anti-graft agency filed before Abiru, the EFCC accused Akingbola and General Manager Tropics Finance Ltd, Mr. Bayo Dada, of stealing about N47.1bn belonging to the bank.

The commission said Akingbola connived with Tropics Finance, a firm allegedly owned by him to steal the money from the bank while he was its MD.