peratives of the Economic and Financial Crimes Commission (EFCC) have traced about 10 million pounds allegedly laundered by former Group Chief Executive Officer (CEO) of Intercontinental Bank Erastus Akingbola to some of his personal foreign accounts.

Daily Trust learnt yesterday that EFCC started probing the foreign accounts of the five former bank chiefs sacked by the Central Bank of Nigeria (CBN) following discoveries that they may have engaged in money laundering.

A senior official who did not want to be named said the latest discovery on Akingbola’s case is the reason why the anti-graft agency is pushing for his repatriation.

The official also said a prima facie case has been established against the former bank chief and the legal department of the commission are in the process of preparing his charge sheet.

According to the source, once EFCC charges Akingbola to court it will inform the government of the country where the monies have been lodged to freeze his accounts.

CBN sacked the former bank chief alongside former Managing Directors of Union Bank Bartholomew Ebong, Afribank Sebastian Adigwe, Finbank Okey Nwosu and Oceanic International Bank Mrs. Cecilia Ibru on August 14 for issuing non-performing loans worth N740billion.

Four of the sacked bank chiefs and 14 ex-directors excluding Akingbola are now facing trial before a federal High Court in Lagos for various offences including conspiracy to influence prices of stocks, granting of unsecured loans, surpassing their banks’ approval limits in granting loans, granting credit facilities without the approval of the Central Bank of Nigeria (CBN) and failure to take necessary steps to ensure the correctness of the Quality Bank Return to the CBN.

Akingbola had travelled to the UK a few days before the sack, after holding a meeting with the staff and informing them of the impending CBN action.

The former bank chief currently in the UK was later declared wanted by EFCC for failure to honour invitations to answer questions regarding non-performing loans the Intercontinental Bank had accrued.

So far EFCC has recovered over N35 billion from debtors owing the bank.

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