Court fixes Feb 20 for Akingbola's petition 'Court refuses his application for stay of proceedings

Hearing in themain appeal filedby the former Managing Director of Intercontinental Bank Plc, Dr Erastus Akingbola, against the ruling of Justice Okechukwu Okeke of a Federal High Court in Lagos which dismissed his suit challenging the planned sale of Intercontinental Bank to Access Bank has been fixed for February 20, 2012 by the Court of Appeal, Lagos Division.It will be recalled that the lower trial judge had, on June 14, dismissed a suit filed by Akingbola and a former Executive Director of Intercontinental Bank Plc, Bayo Dada, on the grounds that it was statute barred and belated.During Tuesday's proceedings, the appellants and respondents agreed that the substantive issues of the appeal should be heard first leaving out contentious areas in order to speed up hearing and determination of the appeal.Consequently, the appellate court, presided over by Justice Helen Ogunwumiju, granted the appellants 14 days to compile record of appeal and transmit same to the court.The court equally granted the respondents 20 days each to reply to the appellants' notice of appeal and thereafter adjourned the case.Meanwhile, Justice Habeeb Abiru of a Lagos High Court sitting in Ikeja, on Tuesday, struck out an application brought by Akingbola asking the court to stay proceedings in his ongoing trial before the court.Akingbola, through his lawyer, Mr Felix Fagbohungtbe (SAN), asked the court to wait for the judgment of a Lagos Court of Appeal which comes up on November 8 before the court continues with trial.The trial judge, in his short ruling, struck out the application for stay on the grounds that is was incompetent.'There is no express provision in the constitution that allows a person/defendant to apply to quash or suspend a trial. Nothing in the constitution which stands against Section 264(2) (Criminal Justice Law) S. 25(1) 1999 does not grant absolute liberty.After the ruling, the first prosecution witness, Abdulraheem Jimoh, a Chief Inspector at Intercontinental Bank, tendered documents to back his claims.The matter was adjourned till November 7, 2011 for continuation of trial.
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