N47.6b theft: EFCC re-arraigns Erastus Akingbola

The Economic and Financial Crimes Commission on Tuesday re-arraigned a former Managing Director and Chief Executive of Intercontinental Bank Plc, Erastus Akingbola, and one of his associates, Bayo Dada, before Justice Adeniyi Onigbanjo of a Lagos High Court sitting in Ikeja.
When the case came up on Tuesday, the duo that were initially docked on Tuesday May 31, 2011, pleaded not guilty to the 22-count charge bordering on stealing N47.6 billion.
After their pleas were taken, EFCC counsel, Godwin Obla, reacting to an application for bail filed before the court by counsel to the first defendant, Chief Wole Olanipekun, SAN, said that the defendants could continue to enjoy bail on the conditions granted them by Justice Habeeb Abiru.
Obla, however, urged the court to accelerate the trial as the case has been on going for a long time, more so when judgement was about to be delivered before it was re-assigned to Justice Onigbanjo.
The new judge urged counsel involved in the case to review the evidences and written statements previously provided so they can continue from where Justice Abiru stopped.
Olanipekun, who was represented in court by M. I. Igbokwe, SAN, said that owing to the change of defence counsel, the court should give new trial dates to allow the judge make a fair decision.
In his ruling, Justice Onigbanjo granted the two defendants bail on their previous bail conditions and adjourned the case till July 10, 11, 12, 13, 14 and 15, 2013.