Former Chief Executive Officer of Intercontinental Bank Plc., Dr. Erastus Akingbola, Tuesday, stated that there is no truth whatsoever in a recent media report that United Kingdom (UK) had asked him to forfeit any asset or pay £68million or any other sum to Intercontinental Bank Plc.
Intercontinental Bank had on December 23, 2009 instituted the case against Akingbola, alleging financial impropriety against the former chief executive of the bank. But a statement issued in Lagos Tuesday and signed by his Media Counsel, Charles Nwajagu, described the media report as misleading, saying the case involving the bank and Akingbola in which the bank was asking for a summary judgment on financial misappropriation has been slated for trial next year. Nwajagu said ”Contrary to the erroneous March 24, 2011 report being spread around, the judge gave his ruling only on Monday, April 4, 2011 thereby casting doubt on the motive and credibility of the story being circulated.”
According to the statement, the April 4 ruling rejected the bank’s application for Summary Judg-ment “on the ground that it is only fair for a defendant (in this case Dr. Akingbola) to cross examine the plaintiff’s witnesses,” adding “ Consequently the judge ordered trial to start sometime next year.”
Maintaining that all allegations regarding payments are misleading, the statement affirmed that “no court has asked Akingbola to forfeit any asset or pay £68million or any other sum to Intercontinen-tal Bank Plc.”
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