Lagos High Court in Ikeja, presided over by Justice Morenike Obadina, on Wednesday dismissed the N200 billion suit jointly instituted by four companies owned by Erastus Akingbola, former chief executive officer of Intercontinental Bank Plc, against the Economic and Financial Crimes Commission (EFCC), attorney-general of the federation and minister of justice as well as the inspector-general of police.

The court ruled that the case lacked merit and awarded N20, 000 cost in favour of the EFCC.

Akingbola was one of the bank chiefs sacked by the Central Bank of Nigeria (CBN) in August over non-performing loans totalling over N700 billion to corporate bodies and individuals. While some of the affected bank executives were arrested and arraigned by the EFCC, Akingbola was alleged to have evaded arrest and ran out of the country.

Shortly after, his lawyers sued EFCC and others on behalf of his four companies namely, Tropics Finance and Investment Limited, Tropics Property Limited, Tropics Security Limited and Tropics Holdings Limited with each company claiming N50 billion as damages for alleged invasion of privacy and business residence, closure of business premises, continuous threat of further invasion and for the freezing of the companies’ accounts by the EFCC which was listed as the first respondent in the suit.

http://allafrica.com/stories/200912170424.html

i hope say people wey dey call for rule of law dey take note. when dis man, cecelia, and de remaining ex bank chiefs begin go prison, i no wan here excuses.

Wow.
1man, 4companies, claiming 50billion naira each.
This Akingbola is definitely the corporate crook of the new banking millenia.

And he is a pastor in one of the new generation churches I hear? Wonderful!

This is judgement day;i must commend our court of law,they are beginning to live up to expectation.wherever he wants let him run to,the long arm of the law must catch up with him n every other thieves that have plunged our nation into this terrible state.its only with time

Lets keep watching.

Let the owner of the companies come out first, then we will know what to say. Smart crooks.

i pity dis guys, they just used them as a very brief example for the rule of law, then we r back 2 square zero again.

Afam:

And he is a pastor in one of the new generation churches I hear? Wonderful!

He is not just a pastor,
He is the Area Pastor of City of David Parish of Redeem Christian Church
Ligali Ayorinde,VI,Lagos

;d ;d ;d ;d ;d ;d ;d ;d ;d ;d ;d

Thief wants some money.

What else do u expect from a Christian? Lie-ing thieving bastards hiding under the banner of religious doctrines and dogmas and on the other hand looting banks blind. I feel so sorry for those daft congregation members that pour out their pennies to the AREA Pastor and at the same time when the dense congregation member go to his bank for a loan, he gets kicked out or possibly get slapped by a wonderful high % interest!

Crazy Christians

MugSmasher:

What else do u expect from a Christian? Lie-ing thieving bastards hiding under the banner of religious doctrines and dogmas and on the other hand looting banks blind. I feel so sorry for those daft congregation members that pour out their pennies to the AREA Pastor and at the same time when the dense congregation member go to his bank for a loan, he gets kicked out or possibly get slapped by a wonderful high % interest!

Crazy Christians

MrCrackles:

Kx:

He is not just a pastor,
He is the Area Pastor of City of David Parish of Redeem Christian Church
Ligali Ayorinde,VI,Lagos

Area pastor abi na Area boy

Justice Morenike? Is this another sign

He is not just a pastor,
He is the Area Pastor of City of David Parish of Redeem Christian Church
Ligali Ayorinde,VI,Lagos

Memories, that used to be my church before I got free from religious persecution. i remember when Erastus Akingbola used to get the front sit at Redeem Church. I always wanted to sit in front because, I wanted to be close to the church choir, but my mother said front seats were reserved for more "anointed ones." Apparently the richer you are, the closer you are to God

SEFAGO:

Memories, that used to be my church before I got free from religious persecution. i remember when Erastus Akingbola used to get the front sit at Redeem Church. I always wanted to sit in front because, I wanted to be close to the church choir, but my mother said front seats were reserved for more "anointed ones." Apparently the richer you are, the closer you are to God

I do not know if Akingbola is guilty of what he is accused of or not . . .until he is proving guilty, i would prefer to consider him to be innocent. Considering that even Sanusi himself cannot be consider to be a saint . . .

Nevertheless,

- its sad . . .but the truth is that where you sit in church is supposed to be random . . .

- its unbiblical to reserve a special sit for anybody . . . including the president . . .

- Now you know why it is written in the bible that narrow is the way, cus the reality is that its difficult for someone (whether pastor or not) to decide to go against popular opinion and action unless such a pastor is willing . . . to bear the full brunt of his actions. Imagine the kind of pressure that would be put on a pastor that refuses to reserve a special seat for anyone in his church . . .

- the sad thing is that its little little things like this that result in people losing their faith . . .hence in my opinion, false pastors and teachers are doing more damage to the church than open persecution of the church. This is because:

1. they teach heresy that leads to people being led astray.
2. they make those who are genuinely interested in coming back to the church to become atheist as a result of what they see in the church.

Please visit us at www.naijasquare.com and register.
Kind regards.

U mean AREA Pastor. Salvation is personal, that man is sure guilty

i think we should not get confused.

this case is the one against infringement on the operations of his 4 companies.

NOT THE ONE THAT CHALLENGES HIS REMOVAL AS INTER'S MD.

he may loose this one on the ground that EFCC are free to infringe on any accused person properties during the course of their work.

But the removal by SANUSI's case is still pending in the court and sanusi doesn't want court to hear it.

let's keep watching,