Date Published: 01/05/10

EFCC takes possession of Erastus Akingbola's multi million naira Ikoyi homes... May have suffered a mild stroke

The Economic and Financial Crime Commission (EFCC), this morning commenced the lockdown of all forfeited properties of ex Chief Executive of Intercontinental Bank, Erastus Akingbola. Pointblanknews learnt that the EFCC this morning locked up Akingbola’s 12 Ruxton Road Ikoyi, Lagos residence. It was gathered that 15 posh vehicles where in the compound when the EFCC took possession of the house. This is one of the 10 palatial Lagos residences of the wanted bank chief who, in concert with some of his cronies, stole over N27billion of depositors’ funds.

Shortly after Akingbola skipped Nigeria, the EFCC got an order of forfeiture of all his properties pending investigation.

EFCC sources hinted that the commission also took possession of another of Akingbola’s multi million naira home at 2 Bedwell Road, Ikoyi, Lagos. The commission is expected to take possession of his Amazing Grace Plaza on Ligali Ayorinde, Victoria Island, Lagos, and another mansion at 2 Milverton Road, ikoyi, by Wednesday.

Pointblanknews sources also learnt that the EFCC has its eyes on some of the ex bank chiefs’ properties in London, Dubai, and Accra.

The EFCC which has begun extradition process from the United Kingdom, where Akingbola is believed to be hiding.

Our source hinted that all the charges against Akingbola and his cronies have been sent to the UK to facilitate the extradition process.

Sources within his allies however hinted that Akingbola who fled the country in the wake of the sweeping arrests of rogue bank chiefs, may have suffered a mild stroke. He is believed not to be in the best of health following the hunt for him by the EFCC

Our source said ‘ we have taken possession of some of his homes today, we will continue tomorrow. If he doesn’t give himself up, we will ensure he is extradited. We will send all the charges to the UK, where he is hiding to facilitate his extradition”

On his health, our source said’ one of his staff told us he has suffered a mild stroke, but we have not been able to confirm that”

Six top officials of the bank and five companies have already been arraigned before Justice Tijani Abubakar,of the Federal High Court,lagos, by the EFCC for allegedly diverting depositor’s funds. The five companies used in the diversion of depositor’s funds are owned by Akingbola.

The 12 count charge includes money laundering, illegal transfer, criminal conspiracy, fraudulent conversion, and fraudulent withdrawal.

The funds that were allegedly withdrawn by the accused persons on the pretext of buying shares between March and June 2009 stood at N18 billion.

EFCC SEALS AKINGBOLA NO 12, RUXTON ROAD IKOYI LAGOS (pictures):