Akingbola gets Nov. 23 date at Appeal Court over frozen assets
The Court of Appeal in Lagos fixed Nov. 23, for the hearing of the appeal filed by the former Chief Executive Officer of Intercontinental Bank Plc, Erastus Akingbola, challenging the freezing of his assets.
Justice Tijani Abubakar of Federal High Court, Lagos, had on Dec. 31, 2009 frozen Akingbola's six bank accounts with the sum of N346 bn and 11 million pounds sterling.
The judge had also placed an interim forfeiture order on Akingbola‘s assets and choice properties in Lagos, the UK, Dubai and Accra, Ghana.
The six banks in which the accounts were frozen are Intercontinental Bank Plc, Access Bank Plc, Zenith Bank Plc, Skye Bank Plc, Fidelity Bank Plc and Intercontinental Bank (UK) Ltd.
The judge also granted the application of the EFCC to temporarily freeze Akingbola‘s assets all over the world.
He, however, ordered the EFCC to allow Akingbola access to N1.4 million per month as living expenses and retention of legal advisers being equivalent to his last take-home pay as the CEO of the bank.
Dissatisfied with the order of the lower court, Akingbola filed a notice of appeal at the appellate court seeking to overturn the decision.
At the resumed hearing of the case on Wednesday, counsel to the EFCC, Mr Kola Awodein (SAN)), urged the court to grant him extension of time to file and serve his reply to the notice of appeal on the respondent.
Counsel to Akingbola, Felix Fagbohungbe (SAN), told the court that he had no objection for extension of time and accelerated hearing of the case.
Justice Helen Ogunwumiju granted their prayers and adjourned the matter till Nov. 23.
The Court of Appeal in Lagos fixed Nov. 23, for the hearing of the appeal filed by the former Chief Executive Officer of Intercontinental Bank Plc, Erastus Akingbola, challenging the freezing of his assets.
Justice Tijani Abubakar of Federal High Court, Lagos, had on Dec. 31, 2009 frozen Akingbola's six bank accounts with the sum of N346 bn and 11 million pounds sterling.
The judge had also placed an interim forfeiture order on Akingbola‘s assets and choice properties in Lagos, the UK, Dubai and Accra, Ghana.
The six banks in which the accounts were frozen are Intercontinental Bank Plc, Access Bank Plc, Zenith Bank Plc, Skye Bank Plc, Fidelity Bank Plc and Intercontinental Bank (UK) Ltd.
The judge also granted the application of the EFCC to temporarily freeze Akingbola‘s assets all over the world.
He, however, ordered the EFCC to allow Akingbola access to N1.4 million per month as living expenses and retention of legal advisers being equivalent to his last take-home pay as the CEO of the bank.
Dissatisfied with the order of the lower court, Akingbola filed a notice of appeal at the appellate court seeking to overturn the decision.
At the resumed hearing of the case on Wednesday, counsel to the EFCC, Mr Kola Awodein (SAN)), urged the court to grant him extension of time to file and serve his reply to the notice of appeal on the respondent.
Counsel to Akingbola, Felix Fagbohungbe (SAN), told the court that he had no objection for extension of time and accelerated hearing of the case.
Justice Helen Ogunwumiju granted their prayers and adjourned the matter till Nov. 23.
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