former Managing Director of Inter continental Bank Plc (now Access Bank), Dr Erastus Akingbola, was on Wednesday, called into the witness box as the fifth defence witness in the ongoing N47.1 billion theft suit instituted against him and one of his aides, Bayo Dada, by the Economic and Financial Crimes Commission (EFCC).At the resumed hearing of the matter before Justice Habeeb Abiru at a Lagos State High Court sitting in Ikeja, Dr Akingbola, while being led in evidence by his counsel, Chief Felix Fagbohungbe (SAN), denied all the 16 allegations of theft brought against him, describing it as false."The allegations are false and it is incorrect because I never posted, received or authorised any such amount and I did not receive or see any money. I didn't fraudulently convert Intercontinental Bank's funds to Tropics Securities Limited."According to him, though he is the chairman of Tropics Securities Limited, he said he never authorised, signed or paid any money to Tropics Finance and he was not aware of the transactions on purchase of shares as he was not involved in the day to day running of the company and had an executive director in charge of shares in Intercontinental Bank."Intercontinental Bank had 200 branches within Nigeria, 57 in Ghana and many subsidiaries. So, there were about 10 executive directors that had autonomy and were checked through countersigns by other executive directors."He added that the alleged transactions were carried out by the Executive Director in charge of Investments and Subsidiaries, Mr Yinka Adebiyi, who he had not seen since he left the bank in August 14, 2009 but that he learnt he is still wanted by EFCC."I was not aware that Intercontinental Bank Plc instructed Tropics Securities to purchase shares in 2008. This was carried out by one of the 10 executive directors under me who process transactions in their directorate"Dr Akingbola also denied the allegation that he had, between March and July 2009, transferred 8.5 million and 1.3 million Pounds Sterling belonging to the bank to Fulgher Solicitors, a United Kingdom- based law firm."My Lord, this is not correct because money was not paid from the bank's NOSTRO account but through the NOSTRO account. Like any other customer of the bank or any Nigerian that needs foreign exchange, I commissioned the bank to buy them for me."I put the naira equivalent down before they bought the exchange and my transfers did not go through until the naira equivalent were in the hands of our foreign operations department staff,"he said.According to him, he financed the transaction through a N2.2 billion loan facility obtained from Regal Investment Company Ltd, owned by the Chairman of Board of Intercontinental Bank, Dr Raymond Obieri.Dr Akingbola when asked if he knew how the forex was sourced stated that he did not know as he does not poke nose into what does not concern him as people assigned the responsibility knew how to do their job ans as a customer, he can't be asking them and since there was no complaint from the beneficiaries.Akingbola, though admitted that he was the chairman and a signatory to the accounts of Tropics Securities Ltd, Tropics Property Ltd, Tropics Finance Ltd and Bakinson Nigeria Ltd was emphatic that he was not aware of the transactions."I am only a signatory to their accounts because I signed when the accounts were being opened about 15 years ago. I have never signed any cheque or document for these companies since then".He also denied that he had in February 2009, transferred N2.5 billion from Intercontinental Bank's account with the Central Bank of Nigeria (CBN), to his personal account.The matter was adjourned till September 26, 2012 for his cross-examination by the EFCC counsel, Mr Emmanuel Ukala.Sent from my BlackBerry Smartphone, from Etisalat. Enjoy high speed internet service with Etisalat easy net, available at all our experience centres
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