23 October 2012

Nigeria: N47.6 Billion Theft - Akingbola Fails to Produce Witness

Former Intercontinental Bank plc Managing Director, Erastus Akingbola yesterday failed to present any witness in defence of a N47.6 billion suit brought against him by the Economic and Financial Crimes Commission (EFCC).

Defence team of the ex-bank MD could not present any witness in the alleged N47.6 billion theft against their client in a trial before the Lagos state High Court.

Justice Habeeb Abiru closed the case yesterday, at the resumed hearing of the trial when the defense team led by Felix Fagbohungbe (SAN) failed to present anyone to testify to some documents brought before the court via a subpoena from Rockson Engineering Limited, according to a statement by EFCC spokesman, Wilson Uwujaren.

The statement quoted the Judge saying, "This case is hereby closed by this court based on the fact that the defense has no witness to present in court. Both parties are to file written addresses for adoption".

The Judge then adjourned the case to 15 November, 2012 for adoption of written addresses.

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