by Stanley Azuakola
This is the kind of news that gets a #Lobatan comment on Twitter.
Following Tuesday’s London court ruling, in which Justice Burton ordered the erstwhile CEO of Intercontinental Bank to refund N164 billion, being the proceeds of what the court felt was a shares fraud, the CBN governor Sanusi Lamido Sanusi has said that Akingbola’s assets would be put on sale to recover the money.
The judge held that the share fraud was a major contributor to the collapse in market value of Intercontinental Bank, which was acquired early 2012 by Access Bank.
Speaking in London on Wednesday, Sanusi said that considering the largeness of the amount Akingbola is expected to refund, the CBN would be left with no choice than to sell “all” of his assets if the disgraced banker is unable to raise the money.
Sanusi was in London for the Nigeria Business and Investment Summit but his statements concerning Akingbola and the court ruling was not made in the course of that meeting.
In Sanusi’s words: “We have a ruling for N164 billion against Akingbola. This means that we can sell all the assets he has in the world until we recover the money. So if he doesn’t have that fund to be refunded, we will sell everything he has to get that.”
Sanusi said the verdict would send signals to other bank chief executives that depositors’ funds should not be tampered with.
Tuesday’s ruling came as a setback for Akingbola, as the court found him to be guilty of mandating the fraudulent scheme where the bank buys its own shares, creating an artificial demand for its shares on the stock market, a market manipulation practice that leads to heavy losses.
Meanwhile, Akingbola has reiterated his innocence. He expressed disappointment at the court ruling and promised to appeal the judgement.
But, of course.
Where is d tone of professionalism in "we will sell everything Akingbola has in this world"? If u sell everything Akingbola has in this world, u cannot sell Akingbola. Many pple lost their jobs in Intercontinental Bank but same happened in many other banks. It is a ripple effect of the CBN governor's reforms not Akingbola's & it is an on going process. There is no job security in d banking sector anymore.
What is Akingbola's main sin? He campaigned against somebody become d CBN Governor. This is just an Issue of personal vendetta.It looks like a script being acted. What Akingbola is being accused of was done by many banks CEOs & is anybody asking for their heads? Akingbola was an employer of labour who renumerated his staff well, & I mean very well. Can we address d economy of d country which has been going from bad to worse since Sanusi became d CBN Governor? Would d CBN Governor stop flogging Akingbola's issue & address some pressing economic issues which require his attention? Come to think of it, why is nobody flogging d shaddy manner at which Intercontinental bank was sold to Access bank?
Can nigerians be straight forward on this man,s issue and face something else,Erastus was one of the greatest employer of labour in Nigeria!!!what has he done that more than one million Nigerian has not done,,,sanusi free this man jor!!!and leet him go and sin no more,,,,,,
What's his done beyond what other one million Nigerians has not done is that he is caught and found guilty. Others re yet to be caught cos we celebrate them one way or by another.
Free him! This man is responsible for the plight of intercontinental bank over 10000 people have lost their jobs. He is a lousy thief and has been found guilty of theft. I can't believe this is coming from you?
We all know there's more to this issue than meet d eye,we all knw Akingbola is humane in all definition of d word,can sum1 tell me ow many families does he put food on their tables,rada he deprives dem of food but all I knw is 1 day will b 1 day for Sanusi Lamido Sanusi.
Awoo baba hw side. Miss missed so baba sorry cldn't make it for ur wedding hw ur wife n tinz ce yeah if come IB i ll check on U̶̲̥̅̊. Inbox me ur pin
Damn rogue! Asides the refund, shouldn't there be more punitive verdicts like a jail sentence for his criminal intent? On behalf of us all who lost hugely during those times, this verdict isn't satisfactory.